To find the slope or rate of change in this scenario, we can use the formula:
Slope = (Change in Y) / (Change in X)
Where Y represents the average price of a home and X represents the year.
Using the provided information, we can calculate the change in Y:
Change in Y = $109,000 - $97,000 = $12,000
And the change in X:
Change in X = 1986 - 1980 = 6 years
Now we can plug the values into the slope formula:
Slope = (12,000) / (6) = $2,000
Therefore, the slope or rate of change in this scenario is $2,000.
In the context of this scenario, the slope represents the average annual increase in the price of a home in Brainerd County. So, on average, the price of a home increased by $2,000 per year from 1980 to 1986.
In 1980 the average price of a home in Brainerd County was $97,000. By 1986 the average price of a home was $109,000.
What is the slope or rate of change in the scenario?
What does the slope mean in context?
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1 answer