Is the logarithmic function applicable when modeling business applications? Why or why not?

Name: Solved: Is the logarithmic function applicable when modeling business applications? Why or why not? - MathMaster
Brand: MathMaster
Rating: 4.9 (254 reviews)

254

likes

1268 views

Answer to a math question Is the logarithmic function applicable when modeling business applications? Why or why not?

$Expert avatar$

Esmeralda

4.7

102 Answers

1. \text{Logarithmic functions are used in business to model diminishing returns or growth rates that slow over time.}

a. \text{For example, in marketing, the initial impact of a new campaign might be substantial, but the effect often diminishes as the market becomes saturated.}

2. \text{They are also used to model learning curves, where the rate of learning decreases as cumulative experience increases.}

3. \text{Logarithmic scales can be useful in financial modeling, particularly in the context of investment returns and understanding compounded growth over time.}

4. \text{Ultimately, the applicability hinges on the need to represent phenomena that exhibit quickly increasing or decreasing rates that taper off over time.}

\text{Answer: Yes, the logarithmic function is used to model scenarios such as diminishing returns, learning curves, and certain financial models.}

Frequently asked questions (FAQs)

Math question: What is the equation of a parabola that opens upward and has a vertex at (3, -2)? (

What is the projection of vector v onto vector u? (v = , u = )

Math question: Find the value of x if log base 5 of x is equal to 3.

New questions in Mathematics

What is the amount of interest of 75,000 at 3.45% per year, at the end of 12 years and 6 months?

Find the equation of the normal to the curve y=x²+4x-3 at point(1,2)

Exercise 4 - the line (AC) is perpendicular to the line (AB) - the line (EB) is perpendicular to the line (AB) - the lines (AE) and (BC) intersect at D - AC = 2.4 cm; BD = 2.5 cm: DC = 1.5 cm Determine the area of triangle ABE.

58+861-87

4.2x10^_6 convert to standard notation

What is the r.p.m. required to drill a 13/16" hole in mild steel if the cutting speed is 100 feet per minute?