Prerequisites

Some exposure to some notion that the rate of reaction of a decaying compound is proportional to the amount of the compound present, perhaps (but not essential) Law of Mass Action or first order kinetics in chemistry course.

Some exposure to the notion of a rate or differential equation and a system of differential equations.

Use DSolve (or other CAS differential equation solver) for the system of differential equations and thus an understanding of what a "solution to a differential equation or a system of differential equations" means.

Some understanding of the concept of least squares fitting of functions, nonlinear in the parameters to be determined, to data.

Optimization of a function of one variable.