TD-Linear Equations - TD-Linear Equations? Why is it...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: TD-Linear Equations? Why is it important to understand linear equations in business? In particular can you provide examples where the relationship between items that can be affected by management and 'items' that management wished to achieve or attain may be 'linear'. Can you think of items for which the relationship in NOT linear? Why is it important to understand linear equations in business? Linear equations are an extension of functions used by many company's financial departments to track growth and spending, interest earned or paid, salary setting, etc. In particular can you provide examples where the relationship between items that can be affected by management and 'items' that management wished to achieve or attain may be 'linear'. A simple example of a linear equation that could be used by a business could be the job status report which employs estimates of cost in each category of expense (Labor, Material, Subcontracts, Equipment, Other). These estimates are used to identify the actual progress and status of each expense category. Estimates might be made from simple linear equation of the productivity or cost of the work to date on each project. Additional linear equations may be applied towards an expansion of a project and its associated costs. Can you think of items for which the relationship in NOT linear? When there are no variables, such as number of products purchased multiplied by the cost of the product equaling total sales. In this example, they are all known points of data where no variable has been introduced. Had a company been looking for potential sales and a customer base, a linear equation may be introduced based on an unknown variable. ...
View Full Document

This note was uploaded on 10/15/2011 for the course BUS BUS306 taught by Professor Dr.jolantaauden during the Spring '11 term at Trident Technical College.

Ask a homework question - tutors are online