Sales at a computer retail store were $1,000,000 in 1982 and $1,790,000 in 1987
let x=0 represent 1982
find the equation giving year sales. estimate sales in 1990.
Could you guys help me with this.
sales=slope*time+constant
slope= 1.790/5
sales= 1.790/5 * (year-1982)+1,000,000
year is in the format of like 1990
sales in 1990=1.790/6(1990-1982)+1000000
For some reason this is not correct :/
It is not in one of the multiple choices
Yes, I can help you with that. To find the equation giving year sales, we need to determine the relationship between the year and the sales. In this case, we can use a linear equation since we are given two data points: the sales in 1982 and the sales in 1987.
Given that x = 0 represents 1982, we can assign 1982 to x = 0 and 1987 to x = 5 (since there are 5 years between 1982 and 1987).
Let's use the equation of a straight line, y = mx + b, where y represents sales and x represents the number of years after 1982.
Using the points (0, $1,000,000) and (5, $1,790,000), we can substitute these values into the equation to find the slope (m) and y-intercept (b):
Using the point (0, $1,000,000):
$1,000,000 = m(0) + b
$1,000,000 = b
Using the point (5, $1,790,000):
$1,790,000 = m(5) + $1,000,000
Now, we can substitute b = $1,000,000 into the second equation and solve for m:
$1,790,000 = 5m + $1,000,000
$1,790,000 - $1,000,000 = 5m
$790,000 = 5m
m = $790,000 / 5
m = $158,000
Therefore, the equation for year sales is y = $158,000x + $1,000,000.
To estimate sales in 1990 (which is 8 years after 1982), we can substitute x = 8 into the equation:
y = $158,000(8) + $1,000,000
y = $1,264,000 + $1,000,000
y = $2,264,000
Therefore, the estimated sales in 1990 would be $2,264,000.