Question

Write a paragraph describing the business venture and what kind of algebra or other calculations and formulas might help someone in that endeavor. Also include ways in which the business might operate differently with those tools than without them.

Answer 1

Algebra can help plan for setting up a business for many reasons. One of these reasons is that algebraic equations can help predict costs related to the business. If something has a set price someone can make a linear equation to calculate prices/costs/profits. In cases in which business owners want to find the best possible outcome, a quadratic equation may be useful. For example sometimes raising prices helps a business because they get more money per customer, but in some cases raising prices can actually be harmful if it lowers the amount of customers too much, the happy medium between number of customers and amount of income can possibly be predicted through a quadratic model.

Answer 2

Starting a business can be a daunting task, but with a little algebra and some careful planning, it can be a successful endeavor. Algebra can help you determine how much start-up capital you will need, as well as how to price your products or services. It can also help you track your expenses and calculate your profits. Without these tools, it would be difficult to know if your business is viable or if you are making a profit.