What are two ways the graphed function could be used to solve real world problems?

a) Determine an equation for the population with respect to the number of years after 2014, assuming that the population increases at a constant rate.

Solution

The function will be of the form

p=a r n, where a is the initial population, r is the rate of increase, n is the time in years and

p is the population.

p=584,513(1.0002)n

b) Find the optimum price for the chips to maximize the profit for the company.

Solution

This will be the vertex of the function. We will need to complete the square.P=−54x2+15x+200

P=-54(x2−12x)+200

P=−54(x2−12x+36−36)+200

P=−54(x−6)2+45+200

P=−54(x−6)

2+245

The optimum price is $6 per bag.

Final answer:

Graphed functions solve real-world problems by visualizing data for economic modeling, demonstrating relationships, trends, and comparisons. Second, they display statistical data, aiding in understanding proportions and comparisons.

Explanation:

The graphed function could be used to solve real-world problems in two major ways. First, graphs like line graphs, pie charts, and bar graphs can be used in economic modeling to visualize data, illustrating patterns, comparisons, trends, and allocation.

For example, a line graph can demonstrate the relationship between two variables such as a company's sales and its advertising budget over time, helping to inform marketing strategies.

Secondly, graphs also play a crucial role in displaying statistical data. For instance, a bar graph could be used to compare the population size of different countries, while a pie graph could visually represent the percentage of a total budget allotted to different departments within a company.

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