Applications of Math in Real Life: COE Quota
The Formula for COE Quota is:
Quote: In the formula above, the subscript denotes calendar year and the subscript denotes quota year (May to April). Initially, projected deregistrations for (calendar) year were simply taken to be equal to actual deregistrations in but from quota year 1999-2000 onwards, a projected number of deregistrations has been used.
Each year, the quota is set to allow for a targeted percent growth in the total motor vehicle population, plus additional quota licenses to cover the number of motor vehicles that will be deregistered during the (calendar) year, plus any unallocated quota licenses from the previous quota year.
Read more at: http://en.wikipedia.org/wiki/Certificate_of_Entitlement