Question 1037221
We are given two data points, (1, 158000) and (4, 162500)
:
We want the slope(m) of the line
:
m = ( 162500 - 158000 ) / ( 4 - 1 ) = 4500 / 3 = 1500
:
So far we have y = 1500x + b
:
Use point (1, 15800) to determine b
:
158000 = 1500 (1) + b
:
b = 156500
:
*****************
y = 1500x + 156500
*****************
:
156500 represents the purchase price George payed for the condo
: