A function is any rule, on how one amount depends on another amount. To be a "function", for one input value (or set of input values), the output value must be uniquely defined.As for applications in real life, there are many. For example, the total cost of a number of products will depend on the amount you buy; the air pressure depends (to a great extent) on the altitude at which you are located; the area of a parcel depends on its length and on its width; etc.
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determing current flow in ammeters
As with most advanced math, if your "real life" involves engineering work, you will use such math; otherwise, you will hardly have anything to do, in this case, with polynomial functions.
They aren't. They aren't.
wheels, tide levels, temperature...
The diameter of a rectangular area is the square root of the length squared plus the width squared. D = √(L²+W²).