Modeling Revenue:
The revenue for wireless service is given for 6 years for the William Robert Telecommunications Company.
$$
\begin{array}{c|c}
\mbox {Years } \,\, x \,\, \mbox{ after 2000} & \mbox{Revenue }\,\, y \,\, \mbox{ in Millions of Dollars} \\ \hline
0 & 250\\
1 & 370\\
2 & 500\\
3 & 550\\
4 & 1000\\
5 & 1500\\
\end{array}
$$
a. Draw a scatter diagram for these data points and
determine the line of best fit. (Round the coefficients
to the nearest thousandth.)
b. Determine the exponential function of best fit.
c. Use this function to estimate the revenue for 2006.
d. Assuming the trend continues, when will the William Robert Telecommunications Company (a.k.a. Billy Bob T.C.) see
a revenue of 4 billion?
Note: you will need use a graphing calculator for this POW. You will enter the data into
your calculator and it will give you the coefficients of your exponential function.
The details for for how this is done can be found in section 11.7, Example 8 of our textbook.