The cost of driving a car includes both fixed costs and mileage costs. Assume that it costs $167.40 per month for insurance and car payments and $0.35 per mile for gasoline, oil, and routine maintenance.

(a) Find the values for m and b so that y=mx+b models the monthly cost of driving the car x miles.

(b) What does the value of b represent?

Answer:

x=$0.35

y=4167.40

(a)m= 24

b=120;

(b)b represent fixed cost or intercept with y axis