To provide an estimate for the cost of reforesting the 140-acre tract of land, Kaia should consider the range of costs provided, which is between $100 and $450 per acre. If she suspects that the tract will require more preparation than most but not as much as some, she might select a value that is in the middle to higher range of the costs.
Here’s how to approach this:
- Low Estimate: $100 per acre (not likely suitable since the site will need more preparation).
- Mid-range Estimate: Find the midpoint between $100 and $450, which is \((100 + 450) / 2 = 275\) per acre.
- High Estimate: $450 per acre (not suitable since it’s too high).
Given that Kaia believes the tract will need more preparation than average but less than the maximum, she might select an estimate around $350 per acre as a reasonable compromise.
Now, calculating the total estimate:
Estimated Cost per Acre: $350
Total Cost for 140 Acres: \(140 \text{ acres} \times 350 \text{ dollars/acre} = 49,000 \text{ dollars}\)
Kaia can provide an estimate of approximately $49,000 to the teacher based on the assumption of needing more preparation. Alternatively, she could offer a range from $275 to $350 per acre, resulting in a total range of approximately $38,500 to $49,000 for the entire tract, depending on the final decision on preparation needs.
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