Answered step by step
Verified Expert Solution
Question
1 Approved Answer
This exercise is intended to challenge your ability to interpret the meaning of functions in words. Darden Restaurants, Inc., is the parent company of a
This exercise is intended to challenge your ability to interpret the meaning of functions in words. Darden Restaurants, Inc., is the parent company of a number of popular restaurants including The Olive Garden, Red Lobster, Bahama Breeze, and Smokey Bones Barbeque & Grill. According to the company's 2005 annual report, the cost of sales increased from $3.1 billion in 2001 to $4.1 bilion in 2005. During the same time period, revenue from sales increased from $4.0 billion to $5.3 billion.t Answer the following questions using mathematical computations to substantiate your results. (a) Between 2001 and 2005, was the cost of sales increasing more rapidly than the revenue from sales? Explain Nothe revenue increased by 1.3 X billion dollars while sales cost increased by 1.0 X billions dollars. (b) what is an equation of a linear function that models revenue from sales, R, as a function of cost from salesC? (Both R and C are in billions of dollars.) R(C)7.2 (c) Given the model you found in part (b), what do you estimate the revenue from sales was when the cost of sales was $3.9 billion? $ 7.9 X billion (d) According to the company's annual report, the cost of sales was $3.9 billion in 2004 and the revenue from sales was $5.0 billion. How well did your estimate in part (c) fit the actual data in the company's annual report? The estimate waswithin 0.05 billion dollars of the actual data. The estimate was 4 dollars. X billion dollars and in actuality it was 5.3 Xbillion
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started