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Quantitative Reasoning: Simultaneous Equations, Converting Data

Please provide some help or ideas with these questions.

#1: What are Simultaneous Equations and do they contribute to making business decisions.

#2: Converting data to indexes, what does that mean and what value does it provide in quantitative reasoning?

Solution Preview

1) Simultaneous equations are sets of equations which must all be satisfied. Usually they will reference a common set of variables. For example, {x + y = 10 and 6x - y = 4} is a set of two simultaneous equations with solution {x = 2, y = 8}.

The most common case for simultaneous equations is when all equations are linear. This means every variable may appear with a constant coefficient (like the "6" in "6x") but not raised to any power and not multiplied by any other variable. A solution to a set of simultaneous equations is an assignment of each variable to a value such that all equations are satisfied. A set of simultaneous equations may have zero, one, more than one, or infinitely many solutions.

Simultaneous equations contribute to business decisions in many ways. A classic example is whether to invest in resources ...

Solution Summary

The solution uses quantitative reasoning to solve simultaneous equations and convert data to indexes.