Section 1.1

Linear Functions

A linear function is one of the simplest functions that we can use to model quantities in finance, economics, and accounting. Although many applications are very complex and call for functions that are also fairly complicated, linear functions are used because of their simplicity and ease of use. Despite this, modeling with linear function often retains the essence of the problem and allow us to understand concepts in a concrete manner.

Before we can examine linear functions, we need to understand the role of independent and dependent variables. Once we understand variables, we can use them to define linear functions.

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