A large pharmaceutical company uses the function f(x)=1.487x-2919 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 2023
To predict the amount of money the pharmaceutical company will spend in 2023, we need to substitute x = 2023 into the given function f(x) = 1.487x - 2919.
f(2023) = 1.487(2023) - 2919
= 3010.301 - 2919
= 91.301
Therefore, the pharmaceutical company is predicted to spend approximately $91.301 billion on research and development in 2023.