Quantitative Reasoning: Simultaneous Equations, Converting Data
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#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?
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The solution uses quantitative reasoning to solve simultaneous equations and convert data to indexes.
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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 ...
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