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Estimate the first year that restaurant revenue will exceed supermarket revenue by at least 150 billion dollars.   The first year that restaurant revenue will exceed supermarket revenue by at least 150 billion dollars  is

Estimate the first year that restaurant revenue will exceed supermarket revenue by at least 150 billion dollars.   The first year that restaurant revenue will exceed supermarket revenue by at least 150 billion dollars  is

Algebra and Trigonometry (MindTap Course List)
Algebra and Trigonometry (MindTap Course List)
4th Edition
ISBN:9781305071742
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter1: Equations And Graphs
Section1.FOM: Focus On Modeling: Fitting Lines To Data
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Estimate the first year that restaurant revenue will exceed supermarket revenue by at least 150 billion dollars.
 
The first year that restaurant revenue will exceed supermarket revenue by at least
150
billion dollars  is
QUETSION ATTACHED IN IMAGE BELOW THNAKS
The scatter plot and linear regression models for the yearly revenue of restaurants (R) and supermarkets (S) are given in the popup below. The revenue for restaurants can be modeled by the equation R= 12.5n + 170.5, and for supermarkets can be modeled by the equation S= 6.5n + 245.5, wheren is the number of years since 1986 and revenue is in billions of dollars. a. Interpret the slope of each model. b. Use the model to predict the revenue of restaurants and the revenue of supermarkets in 2017. c. Estimate the first year that restaurant revenue will exceed supermarket revenue by at least 150 billion dollars. Click the icon to view the scatter plot and data table of yearly revenue. D. use tne moaei to preaict tne revenue or restaurants ana tne revenue or supermarkets in 2017. OT The predicted revenue for restaurants in 2017 is 558 billion dollars. (Type an integer or a decimal.) The predicted revenue for supermarkets in 2017 is 447 billion dollars. (Type an integer or a decimal.) c. Estimate the first year that restaurant revenue will exceed supermarket revenue by at least 150 billion dollars. The first year that restaurant revenue will exceed supermarket revenue by at least 150 billion dollars is. (Round up to the nearest year as needed.)
Transcribed Image Text:The scatter plot and linear regression models for the yearly revenue of restaurants (R) and supermarkets (S) are given in the popup below. The revenue for restaurants can be modeled by the equation R= 12.5n + 170.5, and for supermarkets can be modeled by the equation S= 6.5n + 245.5, wheren is the number of years since 1986 and revenue is in billions of dollars. a. Interpret the slope of each model. b. Use the model to predict the revenue of restaurants and the revenue of supermarkets in 2017. c. Estimate the first year that restaurant revenue will exceed supermarket revenue by at least 150 billion dollars. Click the icon to view the scatter plot and data table of yearly revenue. D. use tne moaei to preaict tne revenue or restaurants ana tne revenue or supermarkets in 2017. OT The predicted revenue for restaurants in 2017 is 558 billion dollars. (Type an integer or a decimal.) The predicted revenue for supermarkets in 2017 is 447 billion dollars. (Type an integer or a decimal.) c. Estimate the first year that restaurant revenue will exceed supermarket revenue by at least 150 billion dollars. The first year that restaurant revenue will exceed supermarket revenue by at least 150 billion dollars is. (Round up to the nearest year as needed.)
Expert Solution
Step 1

Solution:

c)

Given:

R = 12.5n +170.5

S= 6.5n + 245.5

 

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