Question 455324
1. The average price of an acre of land in some country was $1222 in 2001. In 2006, the price rose to approximately $1702.
a. two ordered pairs of the form (year, price of acre) are?
Ans: (1,1222) and (6,1702)
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b. The slope of the line through the two points is approximately?
Ans: (1702-1222)/(6-1) = 480/5 = 96
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c. Choose the correct interpreations of the slope.
Each year the average price increases by $96
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2. In 1980, median family income was about $17,000, and in 2000 it was about $41,000.
a. find the slope.
Ans: (41000-17000)/(2000-1980) = 1200
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b. interpret the slope as a rate change.
Each year the median family income increases by $1200 
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c. the median family income in 2005 will be?
I(x) = 1200x + b
Solve for "b":
b = 17000
I(x) = 1200x + 17000
I(25) = 1200*25 + 17000
I(25) = $47,000
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Cheers,
Stan H.
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