Question

Revenue The revenues R (in millions of dollars) for Panera Bread Company from 2000 through 2009 can be modeled by the exponential function

R(t) = 163.82(1.2924)t
where t is the time in years with t = 0 corresponding to 2000. Use the model to estimate the population in the year (a) 2014 and (b) 2017

Answer 1

a) 5941.88 millions

b) 12826.70 millions

Explanation:

We are given the following in the question:

`R(t) = 163.82(1.2924)^t`

where R(t) is the revenues R (in millions of dollars) and e t is the time in years with t = 0 corresponding to 2000.

a) revenue in the year 2014

We put t = 14 in the model.

Putting values we get,

`R(t) = 163.82(1.2924)^(14) = 5941.88`

Thus, the revenue is approximately 5941.88 millions in 2014.

b) revenue in the year 2017

We put t = 17 in the model.

Putting values we get,

`R(t) = 163.82(1.2924)^(17) = 12826.70`

Thus, the revenue is approximately 12826.70 millions in 2017.