Answer:
The slope of the model is .
The value of the slope indicates that the average cost of a hair cut is increased by 2 US dollars each year.
Step-by-step explanation:
We have to notice that given function is a linear function, that is, a first order polynomial, whose standard form is described below:
Where:
- Slope, dimensionless.
- Independent variable, dimensionless.
- Dependent variable, dimensionless.
- y-Intercept, dimensionless.
In this case, we use the linear function , where
is the time after 2000, measured in years, and
is the average cost of a hair cut. The slope of the model is
.
The value of the slope indicates that the average cost of a hair cut is increased by 2 US dollars each year.