Archive | June, 2017

Income elasticity of demand

12 Jun

Income elasticity of demand is best defined as the receptiveness of the quantity demanded for a good or service in alteration to the income of the people demanding such goods or services.

A product that I consume on a daily basis is water. If the price of a water bottle went up and my income decrease I would stop buying water.

A product that people still buy regardless of its price would be the iPhones.

Name a product that people would still buy regardless if the prices increases or decreases?

 

 

Reflection Before the Exam

12 Jun

Since the first exam I can say I learned many new things including, Logarithms, Rational functions, Exponential Functions, Composition of Function and Inverse Function. Other topics as well but I can not remember them. I feel as the new topics that we are learning are more complex. None of these ideas have really been a surprise just headaches. The deeper we go into more complex math, the more I am going to wileyplus to study, but it does not help much.

How do you feel about the class?

Sail Away!

12 Jun

As I moved the red dot around the circle the water tide rises and lowers. When the red dot is at the bottom of circle the water level is low and when it is at the top of the circle the water level is high. I traced the curve by moving the red dot along the circle.

Screen Shot 2017-06-12 at 12.03.06 AMScreen Shot 2017-06-12 at 12.04.14 AM

These are my attempts to trace sail boat 2 and 4. Hold the applause please. What boats did you trace?

Feel the Earth Shake

2 Jun

The Richter Scale is a base 10 logarithmic scale used to measure the strength of earthquakes. A 5.0 earthquake moves the Earth 10^5 microns.

So lets solve this 5x = 212

Since 212 is not a power of 5, then I will have to use logs to solve this equation. I could take base-5 log of each side, solve, and then apply the change-of-base formula, but I think I’d rather just use the natural log in the first place:

5x = 212

ln(5x) = ln(212)

x · ln(5) = ln(212)

x=ln(212)ln(5)x=ln(5)ln(212)

…or about 3.328, rounded to three decimal places.

How else can an earthquake be measured?

Logarithm Scales

2 Jun

A logarithmic scale is a nonlinear scale used when there is a large range of quantities. Common uses include the earthquake strength, sound loudness, light intensity, and pH of solutions.

A logarithm is an exponent (power) to which a base number must be raised to yield the same result. The standard logarithm scale is called base 10. The term “log” is used when specifying a log scale.

In base 10, the log of 100 = 2:

When basing your equation on base 10, indicating the base is not required as base 10 is implied:

Other bases can be used, such as base 2, or base 3, or even base 25:

The reason for using a log scale is so we can evaluate our data easier. For example, a chart of data can either look like a boring straight line, or with a log system applied, a more dynamic chart is created:

The graph above is nothing in particular, but the blue line will be raw data, and the pink line will be the same data using a base 10 log scale.

What is a good example of a logarithm scale?

Exponential Skyscrapers

2 Jun

Screen Shot 2017-06-02 at 1.13.40 PM

 

Growth rate is the addend by which a quantity increases (or decreases) over time. For example, compound interest is a growth factor situation: If your investment yields 10% annually, then that means that each year, your total has multiplied itself by 110% (the growth factor is 1.10). 

I chose the Chrysler Building which is located in New York and is 1,045 ft. A domino is 5mm so I used the equation 5(1.5)^x.

1.5 is the size difference in each domino, So I did 5(1.5)^13.2 which is 1,055. That means it would take about 13.2 dominos to knock this tower down.

How dominos would it take to knock your building down?