Solve each problem. (Modeling) Online Retail SalesProjected retai...

Question

Solve each problem. (Modeling) Online Retail SalesProjected retail e-commerce sales (in billions of dollars) for the years 2016–2022 can be modeled by the equation
y=52.304x+396.80, where x=0 corresponds to 2016, x=1 corresponds to 2017, and so on. Based on this model, find projected retail e-commerce sales in 2022 to the nearest tenth of a billion. (Data from www.statista.com)

Accepted Answer

Hello everyone in this video, we're going to be looking at this practice problem where we will use the equation that calculates the projected revenue and billions and millions of dollar of a hardware. Using the equation Y is equal to 38.415, x plus 823. and X At zero corresponds to the year And X at one is 2023. And we want to calculate the projected revenue in 2026. So the first thing that we need to do is calculate where X would be When it's 2026. So because X is equal to zero at 2022, You can do -2022 that gives us four. So X is at four During 2026. You can also calculate that because if we're at zero At 2022, that means that 2023 were at one In 2024. We're at two in 2025, we're at three and in 2026 were at four. By doing this subtraction, we just subtract the baseline of 2024. So both of these ways are plausible to get that X is equal to four. So now that we know that X is equal to four, we can plug that into our equation where Y is equal to 38.415 X, which is four plus 823.2. So if I start to solve this equation, 38.415 times four is 153.66. And I still have the plus 823.2. So when I add those two together, I get 976.86, which means that the projected revenue in the year 2026 is 976.86 millions. So this becomes our final answer for this problem. And you can see that answer choice. A if we round ours Is the same where we have 976 and if we round B H Up, we get 976.9. So answer choice A is our final answer for this problem. So hopefully this video helped and see you next time.

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