Eliminate the parameter to obtain the reciprocal function

The video tutorial explains the concept of curves when set to Y equals and demonstrates solving for X and T in equations. It covers substituting values into another equation and describes the resulting curve as exponential. The tutorial further explains the reciprocal function and hyperbola, cautioning the use of the term 'function'.

Can you explain the significance of the term 'hyperbola' in the context of the discussion?

What caution does the speaker advise regarding the term 'function'?