The option c is correct. The linear representation model is best for this situation out of the exponential, quadratic model.
According to the statement
we have given that:
Monthly Rate = $20, Number of customers = 5000
If there is a decrease of $1 in the monthly rate, the number of customers increase by 500.
And we have to find that The type of model that best fits the given situation.
So, according to the linear representation model
Monthly Rate = $20, Number of customers = 5000
Let us decrease the monthly rate by $1.
Monthly Rate = $20 - $1 = $19, Number of customers = 5000 + 500 = 5500
Let us decrease the monthly rate by $1 more.
Monthly Rate = $19 - $1 = $18, Number of customers = 5500 + 500 = 6000
Here, we can see that there is a linear change in the number of customers whenever there is decrease in the monthly rate.
We have 2 pair of values here,
x = 20, y = 5000
x = 19, y = 5500
Let us write the equation in slope intercept form:
y = mx + c
And Slope of a function is
m = y₂ - y₁ / x₂ - x₁
Then
m = 5500 - 5000 / 19 - 20
m = -500
So, the equation become
y = -500x +c
And find the value of by putting the values.
So, c = 15000
And the equation become
y = -500x + 15000.
According to this linear model is perfect for this situation.
So, The linear representation model is best for this situation.
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