<em>None of the above</em>. All the answers refer to <em>price</em>. The given equation refers to <em>value</em>. We imagine price may stay the same or actually increase year-to-year. The problem statement gives insufficient information to conclude anything about <em>price</em>.
Math is about attention to detail. The equation tells you ...
... The <em>value</em> of the boat decreases by 12% every year.
<h3>Step-by-step explanation:</h3>
The value of the boat is multiplied by 0.88 each time X increases by 1. That means the value is 88% of what it was the year before, <em>a decrease of 12%</em>.
68% of the data falls within one standard deviation, 95% percent within two standard deviations, and 99.7% within three standard deviations from the mean.
