SOLUTION: The median price of an existing home was $160,000 in 2000 and $240,000 in 2007. If x represents the number of years since 2000, use these data points to determine a line of best fi

Question 1099202: The median price of an existing home was $160,000 in 2000 and $240,000 in 2007. If x represents the number of years since 2000, use these data points to determine a line of best fit for the trends in the price of existing homes. Write the equation in slope-intercept form.
Answer by josmiceli(19441) (Show Source): You can put this solution on YOUR website!
You are given 2 points on the line:
( 0, 160 )
( 7, 240 )
Note that y-values are in thousands of dollars
--------------------------------------------
Use the general point-slope formula

-------------------------
check:
Does it go through ( 7, 240 ) ?

OK
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