Based on data from 1980 to 2005 the value of the dollar base

Based on data from 1980 to 2005, the value of the dollar based on producer prices can be modeled by V(t) = 0.00004785t3 + 0.02314t2 0.04774t + 1.137 where t is the number of years since 1980. (Detailed answer please.)

Write the formula for P(t) given P(t) = 1000V(t).

What does the function P represent in this situation?

Function P represents the value of $_______ based on producer prices.

Solution

P(t) = 1000V(t) = 1000(0.00004785t3 + 0.02314t2 0.04774t + 1.137)

P(t) = 0.04785t3 + 023.14t2 047.74t + 1137

Function P represents the value of $1000 based on producer prices.