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Michael797

(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.

  • one year ago
  • one year ago

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  1. Michael797
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    • one year ago
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  2. Akshay_Budhkar
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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?

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

    • one year ago
  4. Akshay_Budhkar
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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

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

    • one year ago
  6. Michael797
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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

    • one year ago
  7. Akshay_Budhkar
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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 :)

    • one year ago
  8. Akshay_Budhkar
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    i used (1,10) above^

    • one year ago
  9. Michael797
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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?

    • one year ago
  10. Akshay_Budhkar
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    nope, not in that manner,

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

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

    • one year ago
  13. Michael797
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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.

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

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

    • one year ago
  16. Akshay_Budhkar
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    so thats the equation of your line!

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

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

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

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

    • one year ago
  21. Michael797
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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

    • one year ago
  22. Akshay_Budhkar
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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

    • one year ago
  23. Michael797
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    Yeah and thanks for showing me!

    • one year ago
  24. Akshay_Budhkar
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    no problem :)

    • one year ago
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