An advertising agency conducted a survey and found that the number of units sold, N, is related to the amount a spent on advertising (in dollars) by the following formula:
N = 6,500 + 400 ln a (a ≥ 1)
How many units are sold after spending $1,000? (Round your answer to the nearest whole number.)
To find the number of units sold after spending $1,000, we need to substitute the value of 1,000 into the formula and calculate the result.
The formula given is:
N = 6,500 + 400 ln(a)
Substituting a = 1,000 into the formula:
N = 6,500 + 400 ln(1,000)
To calculate the natural logarithm, we can use a calculator or a math software. The natural logarithm of 1,000 is approximately 6.908.
N = 6,500 + 400 * 6.908
N ≈ 6,500 + 2,763.2
N ≈ 9,263.2
Therefore, approximately 9,263 units are sold after spending $1,000.