During 1995 candy sales were $1342 billion. by 2001 the figure had risen to 1474. if this was to continue what will be the total candy sales in 2005?
**i skiped two grades but i strugle with math
**i skiped two grades but i strugle with math
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hi
in 6 years it went up for $1474-$1342=$132
so in 1 years it went up for $132/6=$22
now from 2001 to 2005 there are 4 years and each year the amount will increase for $22.
that's 4(years)*$22=$88.
now add that to the amount of money in 2001 (1474) :
1474+88=1562
in 6 years it went up for $1474-$1342=$132
so in 1 years it went up for $132/6=$22
now from 2001 to 2005 there are 4 years and each year the amount will increase for $22.
that's 4(years)*$22=$88.
now add that to the amount of money in 2001 (1474) :
1474+88=1562
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There are at least three possible answers.
First, if the increase per year is constant, you do this:
1474 - 1342 = 132
2001 - 1995 = 6
So the increase was $132 billion in 6 years, which is 132/6, or $22 billion per year.
In the additional four years between 2001 and 2005, sales should increase an additional 22*4, or $88 billion, from the 2001 level of $1474 billion.
So the sales in 2005 should be 1474+88 = $1562 billion.
Second, if you assume that the percentage increase over 4 years is 4/6 (or 2/3) of the percentage increase over 6 years, you do this:
1474 - 1342 = 132
132 / 1342 = 0.09836
So the percentage increase over 6 years from the starting sales is 9.836%.
Over four years, the increase should be about 9.836% * (4/6), or 6.557%.
So the sales in 2005 should be 1474 + (1474 * 0.06557) = 1474 + 97 = $1571 billion.
Third, the mathematically best way to do this is to figure out the continuous rate of increase that would result in the reported sales figures, and use that to project future sales.
1474 = 1342 e^(6r)
e^(6r) = 1474/1342
e^(6r) = 1.09836
ln e^(6r) = ln 1.09836
6r = 0.09382
r = 0.01564
So the annual increase is about 1.564%.
In an additional four years, that would result in sales increasing from 1474 to:
n = 1474 * e^(4r)
n = 1474 * e^(4 * 0.01564)
n = 1474 * e^(0.06256)
n = 1474 * 1.06456
n = 1569
So the sales in 2005 should be $1569 billion.
First, if the increase per year is constant, you do this:
1474 - 1342 = 132
2001 - 1995 = 6
So the increase was $132 billion in 6 years, which is 132/6, or $22 billion per year.
In the additional four years between 2001 and 2005, sales should increase an additional 22*4, or $88 billion, from the 2001 level of $1474 billion.
So the sales in 2005 should be 1474+88 = $1562 billion.
Second, if you assume that the percentage increase over 4 years is 4/6 (or 2/3) of the percentage increase over 6 years, you do this:
1474 - 1342 = 132
132 / 1342 = 0.09836
So the percentage increase over 6 years from the starting sales is 9.836%.
Over four years, the increase should be about 9.836% * (4/6), or 6.557%.
So the sales in 2005 should be 1474 + (1474 * 0.06557) = 1474 + 97 = $1571 billion.
Third, the mathematically best way to do this is to figure out the continuous rate of increase that would result in the reported sales figures, and use that to project future sales.
1474 = 1342 e^(6r)
e^(6r) = 1474/1342
e^(6r) = 1.09836
ln e^(6r) = ln 1.09836
6r = 0.09382
r = 0.01564
So the annual increase is about 1.564%.
In an additional four years, that would result in sales increasing from 1474 to:
n = 1474 * e^(4r)
n = 1474 * e^(4 * 0.01564)
n = 1474 * e^(0.06256)
n = 1474 * 1.06456
n = 1569
So the sales in 2005 should be $1569 billion.
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1474=1342*e^(r*6)
r=ln(67/61)/6
r=.015636
1474e^(.015636*4)=1569.13
total candy sales in 2005=$1569.13
r=ln(67/61)/6
r=.015636
1474e^(.015636*4)=1569.13
total candy sales in 2005=$1569.13