Mth114 S2007 Q6
MTH 114 Quiz 4
La Salle University
Dr. R. DiDio
Spring 2007
The following table shows the yearly revenue in $1,000’s of a Center City restaurant that opened in 2000.
| Year | Revenue ($K) |
|---|---|
| 2000 | 30 |
| 2001 | 50 |
| 2002 | 117 |
| 2003 | 265 |
| 2004 | 512 |
| 2005 | 820 |
| 2006 | 880 |
a) Why does this data suggest that a logistic will be a good model for the growth of revenue?
b) Determine a logistic model for the revenue as a function of years since the restaurant opened. (Name your function and input variable appropriately.)
c) Based on your model, what will be the ultimate revenue of the restaurant after many years of operation? Express this question first in terms of your model.
d) Based on your model, when will you reach 99% of your answer to (c)? Express this question first in terms of your model.
