Question

12. The equation y = 1.2x + 3 can be used to approximate the total revenue y, in millions of dollars, of the eQuest Company in year x, where x is the numbers of years since 2005 and
x =1 corresponds to 2006,
x = 2 corresponds to 2007,
x =10 corresponds to 2015, and so on.
a) Find the total revenue in 2005, 2010, and 2012.
b) Graph the equation for 2005 to 2020 and then use the graph to predict the total revenue in 2015.
c) In what year will the total revenue be about $20 million?

Answer 1

Answer/Explanation:

***Note: the total revenue is in millions of dollars. Ex: instead of 3,000,000, you just use 3.

Part A:

2005 - 0 years since 2005.

• $y = 1.2(0) +3$
• $y = 3$
• 3 million dollars.

2010 - 5 years since 2005.

• $y = 1.2(5) + 3$
• $y = 6 + 3$
• $y = 9$
• 9 million dollars.

2012 - 7 years since 2005.

• $y = 1.2(7) + 3$
• $y = 8.4 + 3$
• $y = 11.4$
• 11.4 million dollars.

Part B:

• In 2015, the predicted revenue is 15 million dollars.

Part C:

• $20 = 1.2x + 3$
• $17 = 1.2x$
• $14.17 = x$

• Year = 2005 + 14
• Year = 2019
• In 2019, the total revenue will be about 20 million dollars.
• For part C, you could have also used the graph.