A large pharmaceutical company uses the function f(x) = 1.687x - 3412 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

The company will spend ​$ [ ] billion on research and development in 2029.

Round to three decimal​ places.

Answer 1

To predict the amount of money the company will spend in 2029, we substitute x = 2029 into the given function:

f(2029) = 1.687 * 2029 - 3412
f(2029) = 3414.103 - 3412
f(2029) = 2.103

Therefore, the company will spend $2.103 billion on research and development in 2029.

Answer 2

you sure? it says its incorrect

Answer 3

I apologize for the mistake. Let's calculate it correctly.

Using the given function, we have:

f(x) = 1.687x - 3412

To find the amount of money the company will spend in 2029 (x = 2029), we substitute x = 2029 into the function:

f(2029) = 1.687 * 2029 - 3412
f(2029) = 3420.403 - 3412
f(2029) ≈ 8.403

Therefore, the company will spend approximately $8.403 billion on research and development in 2029.