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)

Question: How many diagonals are in a polygon with 10 sides?

Question: "What is the domain of the logarithmic function f(x) = log(base 2)(x)+3 when graphed?"

What is the measure of the third angle in an isosceles triangle, if two angles measure 40° each?

New questions in Mathematics

How to find the value of x and y which satisfy both equations x-2y=24 and 8x-y=117

Let f(x)=||x|−6|+|15−|x|| . Then f(6)+f(15) is equal to:

𝑦 = ( 𝑥2 − 3) (𝑥3 + 2 𝑥 + 1)

a ferry travels 1/6 of the distance between two ports in 3/7 hour. the ferry travels at a constant rate. at this rate, what fraction of the distance between the two ports can the ferry travel in one hour?

431414-1*(11111-1)-4*(5*3)

-11+29-18