SOME APPLICATIONS OF EXPONENTIAL AND LOGISTIC GROWTH MODELS IN BUSINESS AND ECONOMICS

Year 2021, Volume: 7 Issue: 2, 6 - 17, 31.12.2021

Elçin Gökmen Firdevs Tuba Mavi

https://doi.org/10.22531/muglajsci.897318

Abstract

The use of mathematics for predicting and analyzing the future has long been a subject of study due to the fact that it is a measurable source. Correct estimation is vital for the business world and its economic society. In this study, by employing the exponential growth model and the logistic and generalized logistic models, we estimate the size of the population of Turkey, the international investment position and the level of the national income per person in 2025. Furthermore, we examine the changes in sales of houses and the number of mobile phone subscribers in Turkey. We use GeoGebra program to determine the constants and use the computer algebraic system Maple 15 for other computations and graphs

Keywords

Mathematical Modelling, Exponential Growth Model, Logistic Equation, Business, Economics

Thanks

The authors are grateful to the referees and the editor for a careful checking of the details and for helpful comments that improved this paper.

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