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 is NOT linear?
The response addresses the queries posted in 460 words with references.
//In this paper we are going to learn the importance of understanding linear equations in business. An example is also provided, where the relationship between items that can be affected by management and items that management wish to achieve, may be linear. In the end, items for which the relationship is not linear are also provided.//
Anything that changes at the constant rate, gives rise to a linear equation. In business, understanding the linear equation is important because every possible outcome of the business decision is the direct result of the choice based on the factors involving money, labor, market and situation. Since maximizing the profit is the ultimate goal of the business, it can ...