document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1024861>Question 1024861</A>: <I><SPAN STYLE=\"word-break: break-all;\"> In 1980, the average price of a home in Lake County was $94,000. By 1987, the average price of a home was $129,000. Which of the following is a linear model for the price P of a home in Lake County, in terms of the year t? Let  correspond to 1980.\r<BR>\n" );
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document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #640235 by </B><A HREF=/tutors/aboutme.mpl?userid=Theo><B>Theo(13342)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Theo><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/cgi-bin/show-face.mpl?user=Theo><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=640235\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> price of a home in 1980 is 94000<BR>\n" );
document.write( "price of a home in 1987 is 129000\r<BR>\n" );
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document.write( "what is formula?<BR>\n" );
document.write( "what is price of a home in 1990 based on this formula?\r<BR>\n" );
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document.write( "this is a linear equation.\r<BR>\n" );
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document.write( "the slope of the linear equation is (y2-y1)/x2-x1)\r<BR>\n" );
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document.write( "y2-y1 is 129000 - 94000 = 35000\r<BR>\n" );
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document.write( "x2-x1 is 1987 - 1980 = 7\r<BR>\n" );
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document.write( "slope of the equation is equal to 35000 / 7 which is equal to 5000.\r<BR>\n" );
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document.write( "the slope intercept form of a straight line equation is y = mx + b.\r<BR>\n" );
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document.write( "m is the slope.<BR>\n" );
document.write( "b is the y-intercept.\r<BR>\n" );
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document.write( "your equation starts off as y = 5000 * x + b.\r<BR>\n" );
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document.write( "use one of your data points to solve for b.\r<BR>\n" );
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document.write( "one data point is x1 = 0 and y1 = 94000.\r<BR>\n" );
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document.write( "y = 5000 * x + b becomes 94000 = 5000 * 0 + b.\r<BR>\n" );
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document.write( "this results in b = 94000.\r<BR>\n" );
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document.write( "your equation of y = 5000 * x + b becomes y = 5000 * x + 94000.\r<BR>\n" );
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document.write( "the slope is 5000.<BR>\n" );
document.write( "the y-intercept is 94000.\r<BR>\n" );
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document.write( "when x = 0, the year is 1990,<BR>\n" );
document.write( "when x = 7, the year is 1987.\r<BR>\n" );
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document.write( "the year 1990 is 3 years from the year 1987, therefore .....\r<BR>\n" );
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document.write( "when x = 10, the year is 1990.\r<BR>\n" );
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document.write( "solve the equation for x = 10 and you get the projected value of a home in 1990.\r<BR>\n" );
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document.write( "that value would be y = 5000 * 10 + 94000 which becomes y = 144000.\r<BR>\n" );
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document.write( "the graph of the equation of y = 5000 * x + 94000 is shown below, with the pertinent coordinates marked.\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" src = \"http://theo.x10hosting.com/2016/031401.jpg\" alt=\"$$$\" </>\r<BR>\n" );
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