Give one example each from the real world for the following, along with justification, for your example:
(i) A non-linear model
(ii) A stochastic model
(iii) A linear, deterministic model
(i) Non-linear Model:
An example of a non-linear model in the real world is the population growth model with limited resources, such as the logistic growth model. It is expressed as:
dPdt=rP(1−PK)\frac{dP}{dt} = rP\left(1 - \frac{P}{K}\right)
where PP is the population size, rr is the intrinsic growth rate, and KK is the carrying capacity.
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