Math Problem Statement
The sales of a small company were $45 comma 000 in its fourth year of operation and $65 comma 000 in its sixth year. Let y represent sales in the xth year of operation. Assume that the data can be approximated by a straight line. (a) Find the slope of the sales line, and give an equation for the line in the form y equals mx plus b. (b) Use your answer from part (b) to find out how many years must pass before the sales surpass $120 comma 000
Solution
To solve this problem, let's break it down into two parts.
Part (a): Finding the slope of the sales line and the equation of the line
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Identify the points:
We have two points on the line based on the information given:- In the fourth year:
- In the sixth year:
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Calculate the slope :
The slope of a line is calculated using the formula: Substituting the values: So, the slope is . -
Find the equation of the line:
The general form of the equation of a line is: We can use one of the points to solve for (the y-intercept). Using the point and substituting : Therefore, the equation of the sales line is:
Part (b): Finding the number of years until sales surpass $120,000
We need to find when . Using the equation we derived:
Subtract 5000 from both sides:
Divide both sides by 10000:
So, the sales will surpass $120,000 after approximately 11.5 years. Since we're dealing with years, we round up to the next whole number, so it will take 12 years for the sales to surpass $120,000.
Summary:
- The equation of the sales line is .
- The sales will surpass $120,000 in the 12th year of operation.
Do you want more details or have any questions? Here are some related questions:
- How would the equation change if the sales in the sixth year were $75,000?
- What would be the sales in the 10th year according to this model?
- How would you interpret the y-intercept in this context?
- What does the slope of the line represent in terms of the company's sales?
- How would you graph this line on a coordinate plane?
Tip: Always check if the data can reasonably be modeled by a linear equation before applying linear models.
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Math Problem Analysis
Mathematical Concepts
Linear Equations
Slope
Y-intercept
Formulas
Slope formula
Linear equation form: y = mx + b
Theorems
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Suitable Grade Level
Grades 9-12
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