The expression "5 × 10^3" represents a number in scientific notation. Here, "5" is the coefficient, and "10^3" indicates that the coefficient should be multiplied by 10 raised to the power of 3. This means you multiply 5 by 1,000, resulting in the value of 5,000. Scientific notation is often used to simplify the representation of large numbers. In various fields, such as science, engineering, and finance, scientific notation helps convey large quantities more clearly. For example, when discussing distances in space or populations, using notation like "5 × 10^3" makes it easier to read and understand large figures without writing out all the zeros.