SOLUTION: Americans spent 76 billion dollars on a certain commodity in 1992 and 110 billion dollars in 1996. assuming that this trend continues, estimate the amount spent on this commodity d
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Question 1089441: Americans spent 76 billion dollars on a certain commodity in 1992 and 110 billion dollars in 1996. assuming that this trend continues, estimate the amount spent on this commodity during 1994.
Answer by josmiceli(19441) (Show Source): You can put this solution on YOUR website!
Find the equation of this straight line
I can set these conditions:
1992 = 0
1994 = 2
1996 = 4
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Let = billions of dollars spent
Let = number of years after 1992
Use the general point-slope formula
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1994 = 2
93 billion was spent during 1994
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here's the plot:
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