Assume that sales revenues for Continental Divide Mining can be modeled by

R(t) = 0.031t2 + 0.776t + 0.179

where t is the number of years past 2003.

(a) Use the function to determine the year in which maximum revenue occurs and the maximum revenue it predicts.

(b) Check the result from (a) against the data in the table.

(c) Graph R(t) and the data points from the table.

(d) Write a sentence to describe how well the function fits the data?

The data in the table give sales revenues and costs and expenses for Continental Divide Mining for various years. Use this table in Problems.

Transcribed Image Text:

Costs and Expenses (millions) Sales Revenue Year (millions) $2.6155 $2.4105 2006 2.4412 2007 2.7474 2008 2.934 2.6378 2.9447 2009 3.3131 2010 3.9769 3.5344 3.8171 2011 4.5494 2012 4.8949 4.2587 2013 5.1686 4.8769 2014 4.9593 4.9088 4.6771 2015 5.0913 4.9025 2016 4.7489