What, exactly, is an arbitrary waveform generator, and for what purposes might one be used?
I’ll let you research the answer to this question! Most arbitrary waveform generators are far more sophisticated (and expensive!) than this, and they are worth every penny in the right testing circumstance.
Although this circuit is not nearly advanced enough to replace the functionality of a real arbitrary waveform generator, it makes for an interesting student project, combining analog and digital circuitry in one circuit.