Revenue of Moody's Corporation Moody's Corporation is the holding company for Moody's Investors Service, which has a 40% share in the world credit-rating market. According to company reports, the projected total revenue (in billions of dollars) of the company is as follows. Year, x 2004 2005 2006 2007 2008 Revenue, y 1.42 1.73 1.98 2.32 2.65 (a) Letting x = 4 denote 2004, find an equation of the least-squares line for these data. (Round your numerical values to three decimal places.) y = (b) Use the results of part (a) to estimate the rate of change (in billions of dollars per year) of the revenue of the company for the period in question. (Round your answer to three decimal places.) | billion dollars per year (c) Use the result of part (a) to estimate the total revenue (in billions of dollars) of the company in 2011, assuming that the trend continued, (Round your answer to three decimal places.)
Revenue of Moody's Corporation Moody's Corporation is the holding company for Moody's Investors Service, which has a 40% share in the world credit-rating market. According to company reports, the projected total revenue (in billions of dollars) of the company is as follows. Year, x 2004 2005 2006 2007 2008 Revenue, y 1.42 1.73 1.98 2.32 2.65 (a) Letting x = 4 denote 2004, find an equation of the least-squares line for these data. (Round your numerical values to three decimal places.) y = (b) Use the results of part (a) to estimate the rate of change (in billions of dollars per year) of the revenue of the company for the period in question. (Round your answer to three decimal places.) | billion dollars per year (c) Use the result of part (a) to estimate the total revenue (in billions of dollars) of the company in 2011, assuming that the trend continued, (Round your answer to three decimal places.)
Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter5: Inverse, Exponential, And Logarithmic Functions
Section5.2: Exponential Functions
Problem 51E
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Transcribed Image Text:Revenue of Moody's Corporation Moody's Corporation is the holding company for Moody's Investors Service, which has a
40% share in the world credit-rating market. According to company reports, the projected total revenue (in billions of dollars) of
the company is as follows.
Year, x
2004
2005
2006
2007
2008
Revenue, y
1.42
1.73
1.98
2.32
2.65
(a) Letting x = 4 denote 2004, find an equation of the least-squares line for these data. (Round your numerical values to three
decimal places.)
y =
(b) Use the results of part (a) to estimate the rate of change (in billions of dollars per year) of the revenue of the company for
the period in question. (Round your answer to three decimal places.)
| billion dollars per year
(c) Use the result of part (a) to estimate the total revenue (in billions of dollars) of the company in 2011, assuming that the
trend continued. (Round your answer to three decimal places.)
| billion dollars
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