Answer:
Model is
b = 115m + 65
The slope represents the amount of balance offset per month
Step-by-step explanation:
Here, we want to model an equation.
The equation to model will be in the form;
y = mx + c
we have the following points to consider
The points are in the form;
(number of months, balance)
(m , b)
So the points we have are;
(4,755) and (5,640)
So the slope will be ;
(y2 -y1)/(x2-x1) = (755-640)/(5-4) = 115
So the equation will be;
b = am + c
where a is the slope and c is the y intercept
we already have the slope
so equation becomes;
b = 115m + c
let’s get the y-intercept
we can get the y-intercept by any of the points;
That would be; let’s use (5,640)
640 = 5(115) + c
640 = 575 + c
c = 640 -575
c = 65
So the equation of the model is;
b = 115m + 65
The slope represents the balance per month
