Question

The data in the table below gives sales revenue for Continental Divide Mining from 1995 to 2005.

YEAR YEARS SINCE 1990 SALES REVENUE (MILLIONS)
1995 2.6155
1998 3.3131
1999 3.9769
2000 4.5494
2001 4.8949
2002 5.1686
2003 4.9593
2005 4.7489

(a) Complete the missing column in the table.
(b) Use Excel to determine the quadratic regression model, y, that best represents sales revenue as a
function of, x, the number of years since 1990. Round three decimal places.

(a) Find the year in which there is maximum revenue and find the maximum revenue. Write solution as a
complete sentence.

Answer 1

Answer:

Given that,

The data in the table below gives sales revenue for Continental Divide Mining from 1995 to 2005.

(a).

Complete the missing column in the table:

Year	Year since 1990	Sales revenue (millions)
1995	5	2.6155
1998	8	3.3131
1999	9	3.3769
2000	10	4.5494
2001	11	4.8949
2002	12	5.1686
2003	13	4.9593
2005	15	4.7489

(b).

Use Excel to determine the quadratic regression model, y, that best represents sales revenue as a function of, x, the number of years since 1990:

Using Excel Data Analysis pack, we get:

Sales -0.025 Year^2 + 0.772 Year - 0.879

The graph is given below:

(c).

Find the year in which there is maximum revenue and find the maximum revenue. Write the solution as a complete sentence:

Maximum revenue happens in the year (Peak of the above graph),

Year= 15.321

Year = 1990+ 15.321

=2005 (Rounded)

The revenue is 5.033 million.