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Michael797 Group Title

(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.

  • 2 years ago
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  1. Michael797 Group Title
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    • 2 years ago
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  2. Akshay_Budhkar Group Title
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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?

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

    • 2 years ago
  4. Akshay_Budhkar Group Title
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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

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

    • 2 years ago
  6. Michael797 Group Title
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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

    • 2 years ago
  7. Akshay_Budhkar Group Title
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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 :)

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

    • 2 years ago
  9. Michael797 Group Title
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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?

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

    • 2 years ago
  11. Akshay_Budhkar Group Title
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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\[{(y2-y1)\over(x2-x1)}={(y-10)\over(x-1)}=m=10\]

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

    • 2 years ago
  13. Michael797 Group Title
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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.

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

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

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

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

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

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

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

    • 2 years ago
  21. Michael797 Group Title
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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

    • 2 years ago
  22. Akshay_Budhkar Group Title
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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

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

    • 2 years ago
  24. Akshay_Budhkar Group Title
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    no problem :)

    • 2 years ago
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