Question

(Graph Attached)
The graph below shows the revenue earned by a company in its first four quarters of operation. A line of best fit has been drawn on the graph.

Based on the linear model, how much revenue, in thousands of dollars, should the company earn in its 7th quarter of operation? Type your answer in the box below.

Answer 1

Step 1: Find the equation of that line, by finding the slope using the two points giving,
Step2:substitute x=7 and find the value of y.
Can you find the equation of that line?

Answer 2

i'm sorry but how would I find the equation from this?

Answer 3

You can see the two points on the line (1,10) and (3,30)
So the slope is 10, now using the slope-point form the equation of that line is
(y-10)/(x-1)=10

Answer 4

Slope=m= (y2-y1)/(x2-x1)

Answer 5

Yeah so then that would go to...30 - 10 / 3 - 1 or 20 / 2. That simplifies to 10 / 1 or just 10

Answer 6

Exactly, Now to find the equation, take any 1 point,
use y-y1/x-x1=m=10
Then solve this to get the equation of that line
and then just substitute x=7 to get the value of y :)

Answer 7

i used (1,10) above^

Answer 8

m = 10.
x = 7
But what does b equal, cause if i'm gonna put it in an equation how would I get the "b" in y=mx+b?

Answer 9

nope, not in that manner,

Answer 10

see to find the equation take any point (x,y) and a point you know (lets take (1,10) )
so now we know the slope is 10.. but the slope is also\[{(y2-y1)\over(x2-x1)}={(y-10)\over(x-1)}=m=10\]

Answer 11

taking x2,y2 as x,y and x1,y1 as 1,10

Answer 12

My brain is not working but thank you for the patience, it's 2 am lol. I'm just trying to finish this last question.
But Ok yes that all equals m=10 and now that we know the slope, and we know the Y intercept is 10.

Answer 13

Because the point we chose is (1,10)

Answer 14

nope, see the equation above^ just solve that, so what do we get\[y-10=10(x-1) \therefore y-10=10x-10 \therefore y=10x\]

Answer 15

so thats the equation of your line!

Answer 16

the intercept is zero, u need to slove the equation above

Answer 17

and its 2am here as well i got work in the morning :P

Answer 18

Would the final answer be 70,000 it looks as if it would be right

Answer 19

After estimating the graph it looks almost exactly that once it reaches 7, it would be at 70,000

Answer 20

Oh how could I not realize...the 1 is on 10,000, the 3 is on 30,000, the 4 is on 40,000 jeez I made this alot harder than it it LOL

Answer 21

yea thats your answer, see you dont always need the intercept to write the equation, if u got the slope and a point we get the equation as shown above^
And yes it was so simple, i could have told you the shortcut , but i went through the steps :P

Answer 22

Yeah and thanks for showing me!

Answer 23

no problem :)