Why it Matters: Growth Models
Why practice modeling growth of observable scenarios?
We can apply mathematics to certain real-world situations in order to gain insight into them. When we want to understand the relationship between two quantities in which the outcome of one is dependent upon the input of the other, we look for a mathematical equation that approximates the situation. Plotting a few known data points can lead us to information about what we think relates the quantities, at least in the short run. The resulting graph together with its equation make up a mathematical model. In this module, you’ll learn to build linear models, use linear and exponential models to predict future values, and be able to recognize when to choose a linear vs. exponential vs. logistic growth model for a given scenario.
