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Question 644452: in 1980, the median family income was 18,000 and in 2000 it was 41,000 I need to know what the m= and what would be the median family income 2002
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! in 1980, the median family income was 18,000 and in 2000 it was 41,000 I need to know what the m= and what would be the median family income 2002
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Let "x" be the number of years after 1980.
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You have 2 points: (0,18000) and (20,41000)
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Find an equation thru those two points:
slope = (41000-18000)/(20-0) = 23000/20 = 1150
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Intercept = f(0) = 18000
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Equation:
f(x) = 1150x + 18000
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Income in 2002
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f(22) = 1150*22 + 18000
f(22) = $43300
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Cheers,
Stan H.
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