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Question 752477: please help..
In 1980, median family income was about $19,000 and in 2000 it was about $40,000. a) Find the slope of the line passing through the points (1980,19000) and (2000, 40000). b) Interpret the slope as a rate of change. c) If this trend continues, estimate the median family income in 2004.
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! In 1980, median family income was about $19,000 and in 2000 it was about $40,000.
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You have 2 points: (0,19000) and (20,40,000)
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a) Find the slope of the line passing through the points (1980,19000) and (2000, 40000).
slope = (40000-19000)/(2000-1980) = 21000/20 = 2100/2 = 1050
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b) Interpret the slope as a rate of change.
The family income increases by $1000 each year from 1980 to 2000
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c) If this trend continues, estimate the median family income in 2004.
f(24) = 1000*24+ 19000 = 24000 + 19000 = $43,000
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Cheers,
Stan H.
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