The net sales earned by a company in the fiscal years 2000-2014 can be approximated by R(t)= -3.75t3+65.8t2-206t+578 millions of dollars per year [0
Correlation
Correlation defines a relationship between two independent variables. It tells the degree to which variables move in relation to each other. When two sets of data are related to each other, there is a correlation between them.
Linear Correlation
A correlation is used to determine the relationships between numerical and categorical variables. In other words, it is an indicator of how things are connected to one another. The correlation analysis is the study of how variables are related.
Regression Analysis
Regression analysis is a statistical method in which it estimates the relationship between a dependent variable and one or more independent variable. In simple terms dependent variable is called as outcome variable and independent variable is called as predictors. Regression analysis is one of the methods to find the trends in data. The independent variable used in Regression analysis is named Predictor variable. It offers data of an associated dependent variable regarding a particular outcome.
Continuos income streams(total value, present value,future value)
Consumers surplus and producers surplus
The net sales earned by a company in the fiscal years 2000-2014 can be approximated by R(t)= -3.75t3+65.8t2-206t+578 millions of dollars per year [0<t<14] where t is the time in years. Note that t=0 represents the year 2000. Estimate the total revenue earned from the start of 2007 until the end of 2011.
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