The gross profit for United Parcel Service, Inc. has been increasing steadily for the past several years. The gross profits for UPS are given below. Gross Profit (millions of $) Years 2011 41,827 2012 42,683 2013 43,925 2014 45,874 2015 47,836

Algebra and Trigonometry (6th Edition)
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ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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The gross profit for United Parcel Service, Inc. has been increasing steadily for the past several years. The gross profits for UPS are given below.
Gross Profit
(millions of $)
Years
2011
41,827
2012
42,683
2013
43,925
2014
45,874
2015
47,836
Transcribed Image Text:The gross profit for United Parcel Service, Inc. has been increasing steadily for the past several years. The gross profits for UPS are given below. Gross Profit (millions of $) Years 2011 41,827 2012 42,683 2013 43,925 2014 45,874 2015 47,836
(e) Estimate the gross profit for UPS in 2019. (Round your answer to the nearest tenth of a billion dollars. Include units in your answer. More information.)
In 2019, the profit for UPS Inc. will be
(f) What is the vertical intercept for this model? (Round your answers to one decimal place.)
(t, P) =
What does it mean in this situation? (Round the second answer to the nearest tenth of a billion dollars. Include units in your second answer. More information
In the year
the profit for UPS Inc. was about
Transcribed Image Text:(e) Estimate the gross profit for UPS in 2019. (Round your answer to the nearest tenth of a billion dollars. Include units in your answer. More information.) In 2019, the profit for UPS Inc. will be (f) What is the vertical intercept for this model? (Round your answers to one decimal place.) (t, P) = What does it mean in this situation? (Round the second answer to the nearest tenth of a billion dollars. Include units in your second answer. More information In the year the profit for UPS Inc. was about
Expert Solution
Step 1

Consider 2010 as the base year then, t=0.

Then consider the table as,

Years Gross Profit Years Since 2010

Gross Profit in billion

2011 41827 1 41.827
2012 42683 2 42.683
2013 43925 3 43.925
2014 45874 4 45.874
2015 47836 5 47.836
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