is the model giving the annual price p (in dollars) of a ticket t in years after 2000 is found
<em><u>Solution:</u></em>
Given that,
In 2000, the average price of a football ticket for a Minnesota Vikings game was $48.28
During the next 20 years, the price increased an average of 6% each year
<em><u>The increasing function is given by:</u></em>
Where,
y is the value after t years
t is the number of years
a is the initial value
r is rate of increase in decimal
From given,
a = 48.28
<em><u>Substituting the values we get,</u></em>
Thus the model giving the annual price p (in dollars) of a ticket t in years after 2000 is found