Question 455374
y = 0.16x + 1.22
.
<table>
<tr><td>x-value<td>Year
<tr><td>0<td>2003
<tr><td>1<td>2004
<tr><td>2<td>2005
<tr><td>3<td>2006
<tr><td>4<td>2007
<tr><td>5<td>2008
<tr><td>6<td>2009
<tr><td>7<td>2010
<tr><td>8<td>2011
<tr><td>9<td>2012
<tr><td>10<td>2013
<tr><td>11<td>2014
<tr><td>12<td>2015
<tr><td>13<td>2016
<tr><td>14<td>2017
<tr><td>15<td>2018
<tr><td>16<td>2019
<tr><td>17<td>2020
</table>
.
The given equation is in slope-intercept form, so you can answer a couple of questions by inspection.
y = 0.16x + 1.22
slope = 0.16
y-intercept = 1.22
That means the price of gas was $1.22 in 2003.
.
x-intercept is where y=0, so we solve
0 = 0.16x + 1.22
-.16x = 1.22
x = 1.22/-.16
x = -7.625
.
What does this linear model forecast the price of gas in 2020 to be?
x=17
y = 0.16*17 + 1.22
y = 2.72 + 1.22
y = 3.94
.
Done