Question

Online jewelry sales have increased steadily2003, sales were approximately 2 billion dollars, and 2013 they were approximately 4.17 billion . Construct a model to predict online jewelery sales. Use your model . To find the predicted online jewelry sales for 2015?

Answer 1

Answer: The predicted online jewellery sales for 2015 is 4.607 billion dollars.

Step-by-step explanation:

Since we have given that

Let S(t) be the total sales starts from 2003,

So, our equation becomes,

$S(t)=a+bt$

in 2003, the sales were 2 billion dollars,

So, it becomes

$2=a+b\times 0\\\\a=2$

In 2013, the sales were 4.17 billion dollars,

$4.17=a+b\times 10\\\\4.17=2+10b\\\\4.17-2=10b\\\\2.17=10b\\\\\dfrac{2.17}{10}=b\\\\0.217=b$

So, in 2015, it would be

$S(t)=a+12b\\\\S(t)=2+0.217\times 12\\\\S(t)=2+2.604\\\\S(t)=4.607\ billions$

Hence, the predicted online jewellery sales for 2015 is 4.607 billion dollars.