Question

The equation y = 155x + 110, 419 approximates the total cost in dollars, of raising a child in the United States from birth to 17 years given the household's annual income, X Approximately how much would it cost to raise a child in a household with an annual income of $62 ,500

Answer 1

Answer: Third option.

Step-by-step explanation:

According to the information given in the exercise, you can find an approximation of the the total cost in dollars of raising a child in the United States ( from birth to 17 years) given a household's annual income, with the following equation:

$y = 1.55x + 110, 419$

Where "x" represents the household's annual income in dollars.

Therefore, if the annual income is $62,500; you can identify that:

$x=62 ,500$

Then, in order to calculat the approximated cost to raise a child in a household with that annual income given in the exercise, you need to substitute that value of "x" into the equation and then you must evaluate in order to find the value of "y".

Through this procedure you get the following result:

$y = 1.55(62 ,500) + 110, 419\\\\y=96,875+ 110, 419\\\\y=207,294$