Question

The formula for estimating the number, N, of a certain product sold is N = 9200ln(5t + 3), where t is the number of years after the product is introduced. What is the expected number of sales 3 years after the product is introduced? Round to the nearest whole number.
A. 44,423
B. 26,591
C. 24,917
D. 24,922

Answer 1

To determine the expected number of sales after 3 years of a product, we need an equation that would relate time with the number of sales. In this case, we use the equation above which expresses the number of sales as a function of time. We simply substitute the time which would be 3 years to the equation and evaluate the value of N. We do as follows:

 N = 9200 ln (5t + 3)
 N = 9200 ln (5 ( 3 ) + 3)
 N = 9200 ln 18
 N = 26591.42

Therefore, the correct answer would be option B. The number of sales after 3 years would be about 26591.