SOLUTION: I am not sure if I have this correct. I did try it though. In 1992 the average price of a lot on the beach near a town on Puget Sound was $94,000. By 1999, the average price of a h

Question 139902: I am not sure if I have this correct. I did try it though. In 1992 the average price of a lot on the beach near a town on Puget Sound was $94,000. By 1999, the average price of a home was $129,000. Find a linear model for the price of such a lot on the beach, P, if t=o represents the year 1992.
Here is my answer: P=$35,000t+$94,000
Answer by edjones(8007) (Show Source): You can put this solution on YOUR website!
Mark the years on the x portion of a graph and the home prices on the y.
(x,y) (0,9.4)(7,12.9) are the 2 points on the graph.
slope=m=(y[2]-y[1])/(x[2]-x[1])
=12.9-9.4 / 7-0
=3.5/7
=1/2=.5
.
point slope form of the equation of a line=y-y[1]=m(x-x[1])
take (0,9.4) as the point.
y-9.4=.5(x-0)
y-9.4=.5x
y=.5x+9.4 Answer
.
Ed
.

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