Answer:
<u>Part A. Rate of change $ 50</u>
<u>The initial value of Neil's business is $ 1,200</u>
<u>Part B. x = 1200 + 50y</u>
Step-by-step explanation:
1. Let's review the information given to us to answer the question correctly:
Year Annual Tutoring Fee
2005 $ 1,200
2008 $ 1,350
2. What is the rate of change and initial value for Neil’s business? How do you know?
Rate of change = (Annual Tutoring Fee in 2008 - Annual Tutoring Fee in 2005)/(2008 - 2005)
Replacing with the values we have:
Rate of change = (1,350 - 1,200)/3
<u>Rate of change = 150/3 = $ 50</u>
<u>The initial value of Neil's business is $ 1,200</u>
3. Write an equation in slope-intercept form to represent the fees that Neil charges each year.
Let x to represent the the fees that Neil charges annually and y to represent the number of years after 2005, we have:
<u>x = 1200 + 50y</u>
