Math Problem Statement
Solution
The equation provided is:
Where:
- is the amount of sales of statins in billions of dollars.
- is the number of years after 1998.
We are asked to determine the value of in 2017. To do this, first calculate , which represents the number of years after 1998:
Now, substitute into the equation:
Simplifying:
Now solve for :
Thus, the people in the U.S. will spend $37.4 billion on statins in 2017.
Would you like further details or clarifications on this?
Here are five related questions to explore:
- How would the equation change if the annual spending rate on statins changed?
- Can this model be used for future predictions, say for the year 2025?
- What assumptions are made when using linear models like this one?
- How does the $1.7 billion yearly decrease in spending affect long-term projections?
- Can we derive the year when statin sales were expected to hit zero based on this model?
Tip: Always double-check units when solving word problems—whether the result is in billions, millions, or another unit is important for accurate interpretation!
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Math Problem Analysis
Mathematical Concepts
Linear equations
Substitution method
Formulas
S - 1.7x = 5.1
Theorems
Linear equation solving techniques
Suitable Grade Level
Grades 9-10
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