Question 1054194: Please help me with this one. Thank you so much!
Suppose that y represents the average consumer spending on television services per year (in dollars), and that x represents the number of years since 2004.
a. Use the data points (2,308) and (6,408) to write a linear equation relating to y and x.
b. Interpret the meaning of the slope in the context of this problem.
c. Interpret the meaning of the y intercept in the context of this problem.
d. Use the model from part (a) to estimate the average consumer spending on television services for the year 2007.
Answer by Boreal(15235)   (Show Source):
You can put this solution on YOUR website! (2,308) and (6,408)
The slope is change in y (100) over the change in x (4) or 25
Use the point slope formula to write a linear equation.
y-308=25(x-2)
y=25x-50+308
y=25x+258
the slope is the number of dollars per year since 2004 it has increased, which is $25 every year since 2004.
The intercept, which often is not useful, is the value at x=0 or 2004, or $258, which here was the amount spent in 2004, when x=0 and the line begins.
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In 2007, x=3 years
y=75+258=333, amount spent.
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