princesswilliapdtngo
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the spreadsheet shows the monthly revenue and expenses for a new business.use the models to predict the month in which revenue will equal expense :
                                jan 4000 22,000
                                feb 9000 24,000
                                mar 13,000 25,000
                                apr 16,000 27,000
                                may 21,000 30,000
Would someone please help and explain how to figure this out.

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PinkDivaGirl02

I don't know how to explain the answer. I just know the answer cause I just took the test. On the test I got it wrong, but it told me the correct answer is September. That's how I know it's right. Wish I could be of more help!

lublana

We have been given a table for the (month,revenue,expense) for a new business.

Now we need to use the models to predict the month in which revenue will equal expense :

In other words find when the profit is 0.

So let's subtract revenue from expense for each month.

Treat Jan=1, Feb=2 and so on

Then we get 5 points in (month,profit) format as follows:

(1,18000), (2,15000), (3,12000), (4,11000), (5,9000)


We can graph those points then estimate the line of best fit or you can say regression line.

Using excel utility i got equation:

y = -2200x + 19600

now plug profit(y)=0 and solve for x

0 = -2200x + 19600

2200x = 19600

x=19600/2200 = 8.909

which is approx 9th month means september

Hence final answer will be september month.

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