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MATH 1020 Calculus Concepts 1.5 Learning Activity 1.5 DMS 3. Revenue data for Merck and Co. Inc. are given in the table below. Year 1995

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MATH 1020 Calculus Concepts 1.5 Learning Activity 1.5 DMS 3. Revenue data for Merck and Co. Inc. are given in the table below. Year 1995 1996 1997 1998 Revenue (billion $) 16.7 19.8 23.6 26.9 Align the data to a zero year of 1995. a. Find the best-fitting exponential model for the data. Report your model correct to 3 decimal places. Define the model completely. b. Give the percent change of the exponential model. c. Write a sentence of interpretation for the percent change for this exponential model. d. Use your unrounded exponential model to predict Merck's revenue in 2001. e. Was the result in part d extrapolation or interpolation? Why? f. The actual revenue for Merck and Co. Inc. in 2001 was $48 billion. Is the estimation from the model an over-estimate or under-estimate of the actual

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