A large pharmaceutical company uses the function f(x)=1.527x−2987 to model the amount of money, in billions of dollars, it spends each year on research and development, where x corresponds to the year. Use the function to predict the amount of money it will spend in 2029.

Question

A large pharmaceutical company uses the function f(x)=1.527x−2987 to model the amount of​ money, in billions of​ dollars, it spends each year on research and​ development, where x corresponds to the year.  Use the function to predict the amount of money it will spend in 2029.
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Part 1
The company will spend ​$
  
enter your response here billion on research and development in 2029.
​(Round to three decimal​ places.)

GPT 3.5 · Answer

To determine the amount of money the company will spend in 2029, we need to substitute x = 2029 into the function f(x) = 1.527x - 2987.

f(2029) = 1.527(2029) - 2987

f(2029) = 3095.083 - 2987

f(2029) ≈ $108.083 billion

Therefore, the company will spend approximately $108.083 billion on research and development in 2029.

A large pharmaceutical company uses the function f(x)=1.527x−2987 to model the amount of​ money, in billions of​ dollars, it spends each year on research and​ development, where x corresponds to the year. Use the function to predict the amount of money it will spend in 2029.

A large pharmaceutical company uses the function f(x)=1.527x−2987 to model the amount of money, in billions of dollars, it spends each year on research and development, where x corresponds to the year. Use the function to predict the amount of money it will spend in 2029.