SOLUTION: In 1980, the average price of a home in lake county was $92,000. By 1987,the average price of a home was $127,000. Which of the following is a linear model for the price p of a hom

Algebra ->  College  -> Linear Algebra -> SOLUTION: In 1980, the average price of a home in lake county was $92,000. By 1987,the average price of a home was $127,000. Which of the following is a linear model for the price p of a hom      Log On


   

Question 727022: In 1980, the average price of a home in lake county was $92,000. By 1987,the average price of a home was $127,000. 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 t=0 correspond to 1980. A) P=5000t+92,000. B) P=127,000-35,000t C) P=32,000t+92,000. D)P=127,000-5000t
Answer by josmiceli(19441) About Me  (Show Source):
You can put this solution on YOUR website!
+t+ is plotted on the horizontal axis
{{ P }}} is plotted on the vertical axis
You are given 2 points
( 0, 92000 ) and ( 7, 127000 )
Use the point-slope formula
+%28+P+-+92000+%29+%2F+%28+t+-+0+%29+=+%28+127000+-+92000+%29+%2F+%28+7+-+0+%29+
+%28+P+-+92000+%29+%2F+t+=+35000+%2F+7+
+P+-+92000+=+5000t+
+P+=+5000t+%2B+92000+
(A) is the answer
check:
Let +t+=+7+
+P+=+5000%2A7+%2B+92000+
+P+=+35000+%2B+92000+
+P+=+127000+
OK