SOLUTION: How to solve: In 2000 the cost of a compact car averaged $12,500. In 2003, the cost of a compact car averaged $14,450. Assume that the relationship between time and cost is line

Question 613864: How to solve:
In 2000 the cost of a compact car averaged $12,500. In 2003, the cost of a compact car averaged $14,450. Assume that the relationship between time and cost is linear.
a) Develop a formula for predicting the average cost of a compact car in the future, in the for of C(x)= mx + b, where x represent the number of years after 2000.
Answer by josmiceli(19441) (Show Source): You can put this solution on YOUR website!

given:

and

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Here's a plot where is in thousands of dollars

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