Question 158648
The total world consumption of oil increased from 68.200 million barrels per day in 1995 to 73.215 million barrels per day in 1999. Create a linear model involving a relation between the year and the daily oil consumption in that year. Let t =0 represent the year 1995
:
Using the given information, assign the x,y values as follows:
x1 = 0 (1995); y1 = 68.2 (million)
x2 = 4 (1999); y2 = 73.215 (million)
;
Find the slope (m); m = {{{(y2-y1)/(x2-x1)}}}
m = {{{(73.215 - 68.2)/(4-0)}}} = {{{5.015/4}}} = 1.25375
:
Create an equation using the point/slope formula: y - y1 - m(x - x1)
:
y - 68.2 = 1.25375(x - 0)
:
y = 1.25375x + 68.2; is the equation