Answer:
See explanation
Step-by-step explanation:
A. Gasoline fill-up fee = $4.50
Cost per hour = $40
Average cost = C
Number of hours the scootcar is rented = h
Cost per h hours = $40h
Total cost = $40h + $4.50
Hence,
C = 40h+4.5
B. To plot the graph of the function, find h- and C- intercepts.
When h = 0, then C = 4.5, and we have point (0,4.5)
When C = 0, then 0 = 40h + 4.5, h = -45/400 = -0.1125, and we have point (-0.1125,0)
Plot these two points and connect them with a straight line.
Graph is attached, but you should take only that part of the graph that corresponds to points with h > 0, because the number of hours cannot be negative
The actual price is $46.73 lower than the expected price.
<h3>What is the Formula for Consumer Price Index?</h3>
CPI=consumer price index in the current period
Ct= expected cost in current period
C₀ =cost in the base period
It is given that
Price in base period ie 1983 C₀= $78.75
The actual cost of the microwave oven = $92.66
Consumer Price Index= 177
So, expected price of microwave oven in the current period
Ct= CPIt * C₀ /100 = 177*78.75/100 = $139.39
Difference between the actual price and expected price = 139.39-92.66=$46.73
Therefore, The actual price is $46.73 lower than the expected price.
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