Question 204017: In 1990 the production staff for GoFast, Inc was 2000 and the production rate was 14,000 units per month
In 1995 the staff was 2200 and the production rate was 15,000 units per month
You will be using point intercept methods to determine a linear equation for a linear approximation
Then forecast the production rate Y' , for 1997 ( X= year 8)
Answer by RAY100(1637)   (Show Source):
You can put this solution on YOUR website! year 0 = 1990,,rate =14,000
.
year 5=1995, rate = 15,000
.
slope = (15,000-14000) / 1995-1990 = 1000/5=200
.
y= mx +b,,,,y= 200(x) + 14,000
.
1997, year(1997-1990) =year 7,,,,y =200(7)+14000= 15,400
.
1998, year(1998-1990) = year 8,,,,,y=200(8) +14000=15,600
.
Doing the same for the staff, z=40x+2000
for z(7)=2280,,,,for z(8)= 2320
|
|
|
