In the given description, we can analyze the costs involved in attending the local festival.
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Initial Value (b): This refers to the fixed cost of entering the festival, which is the entrance fee. Therefore, the initial value \( b = 12 \).
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Rate of Change (m): This refers to how the total cost changes with respect to the number of rides taken. The cost of ride tickets is $2 for each ride, which means for each additional ride, the total cost increases by $2. Therefore, the rate of change \( m = 2 \).
To summarize:
- The initial value is \( b = 12 \).
- The rate of change is \( m = 2 \).