A large pharmaceutical company uses the function f(x) = 1.849x - 3602 to model the amount of money, in billions of dollars, it spends each year on research and development, where x corresponds to the year. Use the function to predict the amount of money it will spend in 2014.
To predict the amount of money the company will spend in 2014, we need to evaluate the function f(x) for x = 2014.
f(x) = 1.849x - 3602
f(2014) = 1.849(2014) - 3602
f(2014) = 3722.636 - 3602
f(2014) = 120.636
Therefore, the company is predicted to spend approximately $120.636 billion on research and development in 2014.
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I apologize for the incorrect calculation. Let's correct the evaluation.
f(x) = 1.849x - 3602
f(2014) = 1.849 * 2014 - 3602
f(2014) = 3720.986 - 3602
f(2014) = 118.986
Therefore, the company is predicted to spend approximately $118.986 billion on research and development in 2014.
To predict the amount of money the pharmaceutical company will spend in 2014 using the given function, we need to substitute the year 2014 into the function.
The given function is:
f(x) = 1.849x - 3602
To find the predicted amount in 2014, we substitute x with 2014:
f(2014) = 1.849(2014) - 3602
Calculating this equation, we get:
f(2014) ≈ 1.849(2014) - 3602
f(2014) ≈ 3709.386 - 3602
f(2014) ≈ 107.386
Therefore, the pharmaceutical company is predicted to spend approximately $107.386 billion in research and development in the year 2014, according to the given function.