Find an Exponential Function to Model the Data Below and Use

question 164

Multiple Choice

Find an exponential function to model the data below and use it to predict about how many widgets will be produced in 2019. Round to the nearest million widgets. $$\begin{array} { c | c } & \begin{array} { c } \text { Number of Widgets } \\\text { Years after 2010 }\end{array} \\\hline 1 & 1.9 \\2 & 3.0 \\3 & 4.6 \\4 & 6.3 \\5 & 8.6\end{array}$$

• A) 41 million widgets
• B) 11 million widgets
• C) 60 million widgets
• D) 20 million widgets

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Definitions:

Variable Costs

Expenses that change in proportion to the activity of a business, such as sales volume or production levels.

Fixed Expenses

Costs that do not fluctuate with the volume of production or sales, such as rent, salaries, and insurance premiums.

Target Profit

The amount of net income a business aims to achieve within a specific period.

Break-Even Point

The level of production or sales at which total revenues equal total expenses, resulting in no net profit or loss.