Question 673205: A small business predicts its revenue growth by a straight line method with a slope of 50000 per year. In its fifth year, it has a revenue of 330,000. What would be the equation to help describe the relationship between revenue and time since the business opened.
I'm using excel and having a hard time. Your help is appreciated.
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! A small business predicts its revenue growth by a straight line method with a slope of 50000 per year. In its fifth year, it has a revenue of 330,000. What would be the equation to help describe the relationship between revenue and time since the business opened.
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You have slope and a point (5,330,000)
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Form: y = mx + b
Find the equation:
330,000 = 50000*5 + b
b = 330,000 = 250,000
b = 80000
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Equation: y = 50,000x + 80,000
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Cheers,
Stan H.
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