Simultaneous equations are a set of equations containing multiple variables. What are two examples of how simultaneous equations are used in business? What are some of the different ways you can satisfy these equations?
When we think about simultaneous equations we find that they are not used just to find the points on any type of given graph that is given to you by your algebra teacher but we can also use the same type of equations within the business world as well as in the classroom. A visualization of the graph is helpful to find the information that is needed and to work the equation out. This will allow the business to see the growth, shrinkage, depletion, losses, and other various business methods that will occur within the company on a regular basis. A company or business might use these types of graphs to see how well a product is doing compared to other products on the same product line. Flow charts and pie graphs help the business to see what is doing the best and what products are not doing anything at all.
Company’s will use this information to forecast scenarios to make sure that the company is going to be a success with those types of products. Keeping track of the trends within the business world is a timely task but it has to be done in order to keep up with the growing trends with the business world today. Information can be another simultaneous equation within the business world because the company can predict what the product or service trends are within the global, local, or any other type of specific market. A company that I worked for would use the sales from last year and try and make it over those sales this year. Sometimes this would work out and sometimes it would not because you do not know how many customer’s are going to come into your establishment today but it is a goal for the business to try and beat and increase sales on any given day. Like all business’s they use these equations to predict the amount of sales that they would be doing.