In a certain country, total alcoholic beverage sales were reported throughout the year.

Question

In a certain country, total alcoholic beverage sales were reported throughout the year. Sales were reported as $114.7 billion at the beginning of 2003 and $131.5 billion at the beginning of 2005. Let the x-axis denote time and the y-axis denote the amount of alcohol sales (in billions). Let x = 0 correspond to 2003. Fill in the blanks: The given data is represented by the points (____,114.7114.7) and (22,____). Find the linear equation determined by the two points in part (a). Use the equation in part (b) to estimate the alcohol sales produced in 2004. If the model remains accurate, in what year will reported alcohol sales reach $150 billion?

Answer 1

Your two points are:

(0, 114.7), (2, 131.5)

 

slope: m = (131.5-114.7)/(2-0) = 16.8/2 = 8.4

We already have the y-intercept so equation is:

 

y = 8.4x + 114.7

 

In 2004, x = 1

y = 8.4 + 114.7 = $122.8 billion

 

150 = 8.4x+ 114.7

35.3 = 8.4x

35.3/8.4 = x

4.2 years

 

It will take just over 4 1/5 years 

So in the year 2008 we will surpass $150 billion