Anonymous
Anonymous asked in Education & ReferenceHomework Help · 4 months ago

How do you build a linear of equation to this problem? And can some explain this concept to me?

Smithwares Metal Co. had sales of $48000 in 2004 and $64000 in 2012. Build a Linear Equation to reflect sales in terms of years since 2004. Then use your line to predict the sales in 2017.

I need steps to go about this problem,

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  • 4 months ago
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    x = years since 2004

    y = sales

    There are two given years

    for 2004 

    x = 0

    y = 48000

    point (0, 48000)

    for 2012

    x = 2012 - 2004 = 8

    y = 64000

    point (8, 64000)

    -------------------

    use linear equation 

    y = mx + b

    m is the slope and b is the y-intercept

    m = rise / run

    m = (64000 - 48000) / (8 - 0)

    m = 16000 / 8

    m = 2000

    in the first point (0, 48000) since x = 0, the y value is the y-intercept

    b = 48000

    The linear equation becomes

    y = 2000x + 48000 <––––

    --------------------

    For 2017

    x = 2017 - 2004 = 13

    y = 2000(13) + 48000

    y = 26000 + 48000

    y = 74000

    $74000 <–––––

  • 4 months ago

    P(2017)=((64000-48000)/(2012-2004)*(2017-2004))+48000)=74000

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