David W. answered • 09/13/15

Experienced Prof

The Midpoint Formula is:

( (x_{1}+x_{2})/2, (y_{1}+y_{2})/2 )

The given points are:

P_{1}: (2002,$19.574 million)

P_{2}: (2010, $35.113 million)

Note: the sales (dependent variable) are a function of the year (the independent variable)

Using the Midpoint Formula, the Midpoint between P_{1} and P_{2} is:

( (2002+2010)/2, ($19,574 million + $35,113 million)/2 )

** ( 2006, $27.3435 million )**

Fortunately, the problem asks for year=2006, the middle year of the problem. Otherwise we would do linear estimation as other tutors have suggested.

Note: We cannot assume zeros, but the dollar amount in 2006 is approximately $27,343,500.00.