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Michael797

  • 2 years ago

(Graph Attached) The graph below shows the revenue earned by a company in its first four quarters of operation. A line of best fit has been drawn on the graph. Based on the linear model, how much revenue, in thousands of dollars, should the company earn in its 7th quarter of operation? Type your answer in the box below.

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  1. Michael797
    • 2 years ago
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  2. Akshay_Budhkar
    • 2 years ago
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    Step 1: Find the equation of that line, by finding the slope using the two points giving, Step2:substitute x=7 and find the value of y. Can you find the equation of that line?

  3. Michael797
    • 2 years ago
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    i'm sorry but how would I find the equation from this?

  4. Akshay_Budhkar
    • 2 years ago
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    You can see the two points on the line (1,10) and (3,30) So the slope is 10, now using the slope-point form the equation of that line is (y-10)/(x-1)=10

  5. Akshay_Budhkar
    • 2 years ago
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    Slope=m= (y2-y1)/(x2-x1)

  6. Michael797
    • 2 years ago
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    Yeah so then that would go to...30 - 10 / 3 - 1 or 20 / 2. That simplifies to 10 / 1 or just 10

  7. Akshay_Budhkar
    • 2 years ago
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    Exactly, Now to find the equation, take any 1 point, use y-y1/x-x1=m=10 Then solve this to get the equation of that line and then just substitute x=7 to get the value of y :)

  8. Akshay_Budhkar
    • 2 years ago
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    i used (1,10) above^

  9. Michael797
    • 2 years ago
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    m = 10. x = 7 But what does b equal, cause if i'm gonna put it in an equation how would I get the "b" in y=mx+b?

  10. Akshay_Budhkar
    • 2 years ago
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    nope, not in that manner,

  11. Akshay_Budhkar
    • 2 years ago
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    see to find the equation take any point (x,y) and a point you know (lets take (1,10) ) so now we know the slope is 10.. but the slope is also\[{(y2-y1)\over(x2-x1)}={(y-10)\over(x-1)}=m=10\]

  12. Akshay_Budhkar
    • 2 years ago
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    taking x2,y2 as x,y and x1,y1 as 1,10

  13. Michael797
    • 2 years ago
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    My brain is not working but thank you for the patience, it's 2 am lol. I'm just trying to finish this last question. But Ok yes that all equals m=10 and now that we know the slope, and we know the Y intercept is 10.

  14. Michael797
    • 2 years ago
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    Because the point we chose is (1,10)

  15. Akshay_Budhkar
    • 2 years ago
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    nope, see the equation above^ just solve that, so what do we get\[y-10=10(x-1) \therefore y-10=10x-10 \therefore y=10x\]

  16. Akshay_Budhkar
    • 2 years ago
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    so thats the equation of your line!

  17. Akshay_Budhkar
    • 2 years ago
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    the intercept is zero, u need to slove the equation above

  18. Akshay_Budhkar
    • 2 years ago
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    and its 2am here as well i got work in the morning :P

  19. Michael797
    • 2 years ago
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    Would the final answer be 70,000 it looks as if it would be right

  20. Michael797
    • 2 years ago
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    After estimating the graph it looks almost exactly that once it reaches 7, it would be at 70,000

  21. Michael797
    • 2 years ago
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    Oh how could I not realize...the 1 is on 10,000, the 3 is on 30,000, the 4 is on 40,000 jeez I made this alot harder than it it LOL

  22. Akshay_Budhkar
    • 2 years ago
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    yea thats your answer, see you dont always need the intercept to write the equation, if u got the slope and a point we get the equation as shown above^ And yes it was so simple, i could have told you the shortcut , but i went through the steps :P

  23. Michael797
    • 2 years ago
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    Yeah and thanks for showing me!

  24. Akshay_Budhkar
    • 2 years ago
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    no problem :)

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