Question

If plotted, the following sales series would appear curvilinear. This indicates that sales are increasing at a somewhat constant annual rate (percent). To fit the sales, therefore, a logarithmic equation should be used.

Year | Sales ($ millions) |
||

2007 | 8.0 | ||

2008 | 10.4 | ||

2009 | 13.5 | ||

2010 | 17.6 | ||

2011 | 22.8 | ||

2012 | 29.3 | ||

2013 | 39.4 | ||

2014 | 50.5 | ||

2015 | 65.0 | ||

2016 | 84.1 | ||

2017 | 109.0 | ||

**1) Determine the logarithmic equation.**

y = _____ + ______t

**2) Determine the coordinates of the points on the
logarithmic straight line for 2007 and 2014.**

Points (antilog) for 2007: _____

Points (antilog) for 2014: ______

**3) By what percent did sales increase per year, on the
average, during the period from 2007 to 2017?**

Increased sales: _____%

**4) Based on the equation, what are the estimated sales
for 2018?**

Estimated sales (antilog) $_______ millions

Answer #1

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