Question 1190625

4. The average cost of a 30-second ad during the 1995 super bowl was $1 million, and in 1998 it was $1.3 million.

a)Find the slope of the line through (1995, 1,000,000) and (1998, 1,300,000) and interpret your result.

b)Graph the line passing through the points in part a). Be sure to label your units.

c)Using this model, what is the estimate of the cost of an ad in the 2022 super bowl? Is this amount realistic? Explain.
<pre>Points: (0, 1) and (3, 1.3)
Slope, or {{{matrix(1,7, m, "=", (1.3 - 1)/(3 - 0), "=", .3/3, "=", .1)}}}

Model: {{{matrix(1,3, y - y[1], "=", m(x - x[1]))}}}
        y - 1 = .1(x - 0) ------ Substituting (0, 1) for (x<sub>1</sub>,y<sub>1</sub>), and .1 for m
        y - 1 = .1x
            y = .1x + 1

You need to graph this yourself!

Time period from 1995 - 2022: 2022 - 1995 = 27 years
Using a 27-year time period and the model, we get: y = .1(27) + 1
                                                   y = 2.7 + 1 = 3.7
               Estimated cost of a 2022 Superbowl ad.: <font color = blue><font size = 3><b>$3.7 million. </font></font></b></pre>  You need to determine if this cost is unrealistic or realistic.