Question 1007192: The annual revenue R, in dollars, of a new company can be closely modeled by the logistic function
R(t) =
615,000/1 + 3.6e^−0.044t
where the natural number t is the time, in years, since the company was founded.
(a) According to the model, what will be the company's annual revenue for its first year and its second year (t = 1 and t = 2) of operation? Round to the nearest $1000.
R(1) = $
R(2) = $
(b) According to the model, what will the company's annual revenue approach in the long-term future?
$
Answer by fractalier(6550)   (Show Source):
You can put this solution on YOUR website! You merely plug in the values 1 and 2 in for t in the formula
 and get
R(1) = 615,000/(1 + 3.6*e^(−0.044)) = $138,356.64
R(2) = 615,000/(1 + 3.6*e^(−0.044*2)) = $143,131.80
Then we look at what would happen to R(t) if t gets large...you can plug in 1000 for t to see that...
R(1000) = 615,000/(1 + 3.6*e^(−0.044*1000)) = almost 615,000
As you can see, the revenue approaches $615,000.
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