A change that could be modeled by a positive number represents an increase in value.
Let's analyze the options:
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A change in elevation from 492 feet to -783 feet: This is a decrease and would yield a negative change.
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A change in elevation from 632 feet to 312 feet: This is also a decrease and would yield a negative change.
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A change in elevation from sea level to -87 feet: This is a decrease in elevation below sea level, which would also yield a negative change.
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A change in elevation from –12 feet to 123 feet: This is an increase in elevation (from below sea level to above sea level) and would yield a positive change.
Thus, the correct answer is: a change in elevation from –12 feet to 123 feet.