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Question: 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?
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