Problema Solution
3. The linear equation
represents an estimate of the average cost of gas for year x starting in 1997 (“Consumer price index,” 2006). The year 1997 would be represented by x = 1, for example, because it is the first year in the study. Similarly, 2005 would be year 9, or x = 9.
a. What year would be represented by x = 4?
b. What x-value represents the year 2018?
c. What is the slope, or rate of change, of this equation?
d. What is the y-intercept?
e. What does the y-intercept represent?
f. Assuming this growth trend continues, what will the price of gasoline be in the year 2018? How did you arrive at your answer
Answer provided by our tutors
The linear equation
represents an estimate of the average cost of gas for year x starting in 1997 (Consumer price index, 2006). The year 1997 would be represented by x = 1, for example, because it is the first year in the study. Similarly, 2005 would be year 9, or x = 9.
What year would be represented by x = 4?
0.15(4)+0.79 = 1.39 = year 1999
What x-value represents the year 2018?
21
What is the slope, or rate of change, of this equation?
0.15
What is the y-intercept?
0.79
What does the y-intercept represent?
Cost in zeroth year i.e. 1997
Assuming this growth trend continues, what will the price of gasoline be in the year 2018? How did you arrive at your answer?
For 2018, x=21
y=0.15(21)+0.79
=3.94