Question 256958: Examine the rise in gasoline prices from 1997 to 2006. The price of regular unleaded gasoline in January 1997 was $1.26 and in January 2006 the price of regular unleaded gasoline was $2.31 (Bureau of Labor Statistics, 2006). Use the coordinates (1997, 1.26) and (2006, 2.31) to find the slope (or rate of change) between the two points. Describe how you arrived at your answer.
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! Use the coordinates (1997, 1.26) and (2006, 2.31) to find the slope (or rate of change) between the two points. Describe how you arrived at your answer.
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slope = (change in price)/(change in year)
= (2.31-1.26)/(2006-1997)
= (1.05/9)
= $0.12/year
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Cheers,
Stan H.
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