An equation is the same as a function.
Identifying a functional relationship from a graph is nearly impossible unless it is trivially simple like a linear relationship.
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A function is a rule to calculate a variable, based on one or more other variables. It may be written as an equation, but unlike a generic equation, in a function, for every value of the input variables, it may ONLY have ONE result.
Scientists create graphs to visually represent data and to better understand patterns and relationships within the data. Graphs allow scientists to analyze and interpret information more easily, identify trends, and communicate their findings to a wider audience. Graphs also help scientists make predictions and draw conclusions based on the data they have collected.
A title, labeled axes (for graphs), markings on the axes (again, for graphs) and units of measurement. You could use any of the above, based on your context
The highest power in the equation.
Graphs give a very rapid visual of trends that may exist in data. This trend may be observed and formulae may be derived based on proportionality of 2 variables (one being controlled at a time)