To find the value of \( P \) when \( x = 37 \), we can substitute 37 into the function:
\[ P = 0.79x + 20.86 \]
Substituting \( x = 37 \):
\[ P = 0.79(37) + 20.86 \]
Now, calculate \( 0.79 \times 37 \):
\[ 0.79 \times 37 = 29.23 \]
Now, add this value to 20.86:
\[ P = 29.23 + 20.86 = 50.09 \]
Thus, the value of \( P \) when \( x = 37 \) is approximately \( 50.09 \) million.