Their work often influences economic, social, political and military decisions, according to the BLS. Statisticians may work in government, education, health care and manufacturing.
Aerospace engineers, chemical engineers, civil engineers, electrical engineers, environmental engineers, mechanical engineers and industrial engineers all need strong math skills. Their jobs require them to make calculations using polynomial expressions and operations. For example, aerospace engineers may use polynomials to determine acceleration of a rocket or jet, and mechanical engineers use polynomials to research and design engines and machines, according to Purdue University.
Physical and social scientists, including archaeologists, astronomers, meteorologists, chemists and physicists, need to use polynomials in their jobs. Key scientific formulas, including gravity equations, feature polynomial expressions. In your polynomial equation, x will be your time period. This enables you to figure out what your output is at any given time period. In my project, I had used whole years as my x, as that was all I had.
However, I wanted to know what my monthly user searches would be, so I broke that down by one-twelfth to figure out my monthly user searches for the first five years. By doing this, I not only have my expectations of monthly user searches but I also now have a means to see what my month-over-month growth expectations are. In the example we are working with, I will show you year two months With many businesses, you not only have your standard modeled growth, but you may have additional sources of revenue that need to be added to figure out your total revenue.
For my particular project, that most certainly was the case. Not only did I need to figure out how much revenue would be made per average user search, but I also needed to add revenue from possible partners and affiliates by month. You want to be sure you capture all channels of revenue you expect. Stepping back and thinking on this or talking with a mentor or adviser after your first pass is a great strategy, as you or they may come up with items you had not initially thought of.
With the example we are using, I will calculate the purchase revenue based on the number of users per month we just calculated above, the percent of users that make a purchase, the average purchase price and commission per purchase.
I certainly hope this has given you an idea of the usefulness and importance of polynomials in business and the real world. And, to all of you students out there, no matter where you are in your education, this post is for you.
Because someday, I promise, you will, in fact, use what you have spent all these years learning. This is a BETA experience. You may opt-out by clicking here. More From Forbes. Nov 8, , am EST. May 19, , pm EDT. Apr 28, , pm EDT. How to Identify a Numerical Coefficient of a Term. How to Divide Polynomials By Monomials. Methods for Factoring Trinomials. How to Factor Higher Exponents. How to Factor Polynomials With 4 Terms. What Is Factoring in Math? How to Write a Division Story Problem. How to Convert Amps to HP.
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