To find the slope or rate of change, we need to calculate the difference in the average price of a home between the two years and divide it by the difference in the number of years.
Slope or rate of change = (change in average home price) / (change in time)
Change in average home price = $109,000 - $97,000 = $12,000
Change in time = 1986 - 1980 = 6 years
Slope or rate of change = $12,000 / 6 years = $2,000 per year
The slope or rate of change in this scenario is $2,000 per year.
In context, the slope represents the average annual increase in the price of a home in Brainerd County between 1980 and 1986. This means that on average, the price of a home increased by $2,000 per year during that period.
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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