Examine the rise in gasoline prices from 1997 to 2006. The price of regular unleaded gasoline in January 1997 was $1.26 and in January 2006 the price of regular unleaded gasoline was $2.31 (Bureau of Labor Statistics, 2006). Use the coordinates (1997, 1.26) and (2006, 2.31) to find the slope (or rate of change) between the two points.
2007-08-19 10:08:07 · 6 answers · asked by Anonymous in Science & Mathematics ➔ Mathematics
Slope: m = 0.11667 $/year
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Formula:
m = (Y2 - Y1) / (X2 - X1)
(1997, 1.26) Point 1
(2006, 2.31) Point 2
Then:
m = (2.31 - 1.26) / (2006 - 1997)
m = 1.05 / 9
m = 0.11667 $ / year
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More.
We can find the equation of the line:
y = mx + n
We replace (1997, 1.26) in the equation to find "n":
1.26 = 1997 * 0.11667 + n
1.26 = 232.9833333 + n
n = -231.72333 $
Then
Y = 0.116666 x - 231.72333
We can make a table of gasoline prices from 1997 to 2006 and more
x ................ y
1997 ....... 1.26 $
1998 ....... 1.38 $
1999 ....... 1.49 $
2000 ....... 1.61 $
2001 ....... 1.73
2002 ....... 1.84
2003 ....... 1.96
2004 ....... 2.08
2005 ....... 2.19
2006 ....... 2.31
2007 ....... 2.43 (?)
2008 ....... 2.54 (?)
2009 ....... 2.66 (?)
2010 ....... 2.78 (!!! ??). I'll buy a bicycle.
2007-08-19 10:12:08 · answer #1 · answered by Anonymous · 1⤊ 0⤋
1997 - $1.26/gal
2006 - $2.31
slope = (2.31 - 1.26)/(2006 - 1997)
= 1.05/9 ~ $0.117/year = 11.7 cents/years
2007-08-19 10:15:33 · answer #2 · answered by vlee1225 6 · 1⤊ 0⤋
Since you use coordinates of year,cost the slope would be (2.31-1.26)/9 or 11.7 cents/year.
2007-08-19 10:15:26 · answer #3 · answered by cattbarf 7 · 0⤊ 0⤋
(2.31-1.26)/2006-1997) = 11.67 cents per year
2007-08-19 10:16:06 · answer #4 · answered by ironduke8159 7 · 1⤊ 0⤋
Slope intercept y=mx+b
2007-08-19 10:22:24 · answer #5 · answered by mysackburns 1 · 0⤊ 0⤋
Well no I have 8 digit phone number !
2016-05-17 09:45:05 · answer #6 · answered by heide 3 · 0⤊ 0⤋