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2. The following table shows the revenue and costs (in millions of dollars) for Johnson & Johnson. Year 2008 2009 2010 2011 2012 2013 2014
2. The following table shows the revenue and costs (in millions of dollars) for Johnson & Johnson. Year 2008 2009 2010 2011 2012 2013 2014 2015 Revenue 63,747 61,897 67,224 74,331 70,074 61,587 18,792 65,030 20,360 71,312 22,342 Cost 18,511 18,447 21,658 22,746 21,536 Let x = 8 correspond to 2008 a. Using the Year (x-value ) and Revenue, use cubic regression to find a model for Johnson & Johnson's Revenue, R(x) b. Using the Year (x-value) and Cost, use cubic regression to find a model for Johnson & Johnson's Revenue, C(x) c. Find Johnson & Johnson's profit function, I1(x), using parts a and b. d. In 2019, Johnson & Johnson had a profit of $54.503 billion (54,503 million). Use your profit function from lc to estimate the profits in 2019. Do you think your estimate is close to reality? 2. The following table shows the revenue and costs (in millions of dollars) for Johnson & Johnson. Year 2008 2009 2010 2011 2012 2013 2014 2015 Revenue 63,747 61,897 67,224 74,331 70,074 61,587 18,792 65,030 20,360 71,312 22,342 Cost 18,511 18,447 21,658 22,746 21,536 Let x = 8 correspond to 2008 a. Using the Year (x-value ) and Revenue, use cubic regression to find a model for Johnson & Johnson's Revenue, R(x) b. Using the Year (x-value) and Cost, use cubic regression to find a model for Johnson & Johnson's Revenue, C(x) c. Find Johnson & Johnson's profit function, I1(x), using parts a and b. d. In 2019, Johnson & Johnson had a profit of $54.503 billion (54,503 million). Use your profit function from lc to estimate the profits in 2019. Do you think your estimate is close to reality
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