Linear Algebraic Relationships in Business Management Decisions
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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?
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Solution Summary
The goal of this solution is to assist the student to understand the relationship of variables in business that can be related and
manipulated in a linear relationship. The method used is to demonstrate examples of linear vs non linear relationships.
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Solution Description:
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Manangement wants to manipulate two variables in
some process so that they can achieve a specified
value in a third variable. The equation is defined
as
ax + by = W
This is a linear equation. In management decision
making using finite mathematics, there may be any
number of equations utilizing the relationship for
an business interaction. The equations may be
related by time such that management ...
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