SOLUTION: The total revenue of Retailers,Inc. increased according to the following table: Year x since 1997 Total Revenue, R (millions $) 1997, x = 0 $22 1998, x = 1 $23 1999, x

Algebra ->  Graphs -> SOLUTION: The total revenue of Retailers,Inc. increased according to the following table: Year x since 1997 Total Revenue, R (millions $) 1997, x = 0 $22 1998, x = 1 $23 1999, x      Log On


   

Question 85193: The total revenue of Retailers,Inc. increased according to the following table:
Year x since 1997 Total Revenue, R (millions $)
1997, x = 0 $22

1998, x = 1 $23

1999, x = 2 $27

2000, x = 3 $31

2001, x = 4 $33

2002, x = 5 $38

Use the points (1,23) and (5,38) to find the equation of the function that fits this data.
Now estimate the total revenue in the year 2008.
Answer by scianci(186) About Me  (Show Source):
You can put this solution on YOUR website!
slope = %2838+-+23%29%2F%285+-+1%29
= 15%2F4
= 3.75
y = 3.75x + b
23 = 3.75(1) + b
23 = 3.75 + b
19.25 = b
Equation is y = 3.75x + 19.25
2008 estimate = 3.75(11) + 19.25 = $60.5 million