Question

The equation Y equals 1.55X +110,419 approximates the total cost in dollars of raising a child in the United States from birth to 17 years given the household and no income ask approximately how much would it cost to raise a child in a household with an income of only $62,500

Answer 1

Answer:

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Step-by-step explanation:

Answer 2

Answer:

$ 207,294

Step-by-step explanation:

We have an equation to calculate the cost in dollars of raising a child in the United States which is:

Y = 1.55X + 110,419

Where:

Y is the total cost in dollars

X is the income of the household

We know that X = $62,500

We have to substitute X in the equation:

Y = 1.55*62,500 + 110,419

Now we have to solve the equation:

Y = 96,875 + 110,419

Y = 207, 294 dollars