Exponential and logarithmic functions are used to model a variety of real-world situations mainly related to finance, science, and population. The amount of money in a bank account after a set number of years is modeled by an exponential function. Population growth and decay is modeled by an exponential function. The magnitude of an earthquake is determined using a logarithmic function. Respond to the following questions.
To what extent does mathematics model real life?
Is there always a function that can be used to model the behavior of data?
How can we use math to describe the world and make predictions?
Were functions created to fit data, or did data just so happen to fit existing functions?