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If we assume the linear trend existed before 1950 and continues after 2000, the two states’ median house values will be (or were) equal in what year? (The answer might be absurd.)
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For the following exercises, use the median home values in Indiana and Alabama (adjusted for inflation) shown in
[link] . Assume that the house values are changing linearly.
Year |
Indiana |
Alabama |
1950 |
$37,700 |
$27,100 |
2000 |
$94,300 |
$85,100 |
If we assume the linear trend existed before 1950 and continues after 2000, the two states’ median house values will be (or were) equal in what year? (The answer might be absurd.)
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Real-world applications
In 2004, a school population was 1001. By 2008 the population had grown to 1697. Assume the population is changing linearly.
- How much did the population grow between the year 2004 and 2008?
- How long did it take the population to grow from 1001 students to 1697 students?
- What is the average population growth per year?
- What was the population in the year 2000?
- Find an equation for the population,
of the school
t years after 2000.
- Using your equation, predict the population of the school in 2011.
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In 2003, a town’s population was 1431. By 2007 the population had grown to 2134. Assume the population is changing linearly.
- How much did the population grow between the year 2003 and 2007?
- How long did it take the population to grow from 1431 people to 2134 people?
- What is the average population growth per year?
- What was the population in the year 2000?
- Find an equation for the population,
of the town
years after 2000.
- Using your equation, predict the population of the town in 2014.
-
people
-
years
- Average rate of growth
people per year
So, using
we have
- The year 2000 corresponds to
So,
or roughly 904 people in year 2000
- If the year 2000 corresponds to
then we have ordered pair
corresponds to
- The year 2014 corresponds to
Therefore,
.
So, a population of 3364.
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A phone company has a monthly cellular plan where a customer pays a flat monthly fee and then a certain amount of money per minute used on the phone. If a customer uses 410 minutes, the monthly cost will be $71.50. If the customer uses 720 minutes, the monthly cost will be $118.
- Find a linear equation for the monthly cost of the cell plan as a function of
x , the number of monthly minutes used.
- Interpret the slope and
y -intercept of the equation.
- Use your equation to find the total monthly cost if 687 minutes are used.
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A phone company has a monthly cellular data plan where a customer pays a flat monthly fee of $10 and then a certain amount of money per megabyte (MB) of data used on the phone. If a customer uses 20 MB, the monthly cost will be $11.20. If the customer uses 130 MB, the monthly cost will be $17.80.
- Find a linear equation for the monthly cost of the data plan as a function of
the number of MB used.
- Interpret the slope and
y -intercept of the equation.
- Use your equation to find the total monthly cost if 250 MB are used.
-
- 0.06 For every MB, the client is charged 6 cents.
If no usage occurs, the client is charged $10
-
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Questions & Answers
it is the relatively stable flow of income
what is circular flow of income
branches of macroeconomics
what is Flexible exchang rate?
is gdp a reliable measurement of wealth
introduction to econometrics
Why is unemployment rate never zero at full employment?
bcoz of existence of frictional unemployment in our economy.
Umashankar
what is flexible exchang rate?
poudel
due to existence of the pple with disabilities
Abdulraufu
the demand of a good rises, causing the demand for another good to fall
is it possible to leave every good at the same level
Joseph
I don't think so. because check it, if the demand for chicken increases, people will no longer consume fish like they used to causing a fall in the demand for fish
Anuolu
is not really possible to let the value of a goods to be same at the same time.....
Salome
Suppose the inflation rate is 6%, does it mean that all the goods you purchase will cost
6% more than previous year? Provide with reasoning.
Not necessarily. To measure the inflation rate economists normally use an averaged price index of a basket of certain goods. So if you purchase goods included in the basket, you will notice that you pay 6% more, otherwise not necessarily.
Waeth
discus major problems of macroeconomics
what is the problem of macroeconomics
Yoal
Economic growth
Stable prices
and low unemployment
Ephraim
explain inflationcause and itis degre
increase in general price levels
WEETO
Good day
How do I calculate this question: C= 100+5yd G= 2000 T= 2000 I(planned)=200.
Suppose the actual output is 3000. What is the level of planned expenditures at this level of output?
how to calculate actual output?
Chisomo
how to calculate the equilibrium income
Beshir
Criteria for determining money supply
who we can define macroeconomics in one line
Muhammad
Aggregate demand
Mohammed
C=k100 +9y and i=k50.calculate the equilibrium level of output
nawalparasi district
from belatari
Amisha
I am Camara from Guinea west Africa... happy to meet you guys here
Sekou
ahile becheclor ho
Amisha
hjr ktm bta ho
ani k kaam grnu hunxa tw
Amisha
money as unit of account means what?
Kalombe
A unit of account is something that can be used to value goods and services and make calculations
Jim
all of you please speak in English I can't understand you're language
Muhammad
I want to know how can we define macroeconomics in one line
Muhammad
it must be .9 or 0.9
no Mpc is greater than 1
Y=100+.9Y+50
Y-.9Y=150
0.1Y/0.1=150/0.1
Y=1500
Kalombe
Mercy is it clear?😋
Kalombe
hi can someone help me on this question
If a negative shocks shifts the IS curve to the left, what type of policy do you suggest so as to stabilize the level of output?
discuss your answer using appropriate graph.
if interest rate is increased this will will reduce the level of income shifting the curve to the left ◀️
Kalombe
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Source:
OpenStax, Algebra and trigonometry. OpenStax CNX. Nov 14, 2016 Download for free at https://legacy.cnx.org/content/col11758/1.6
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