For this problem, we can simply identify if this point is a solution by verifying the plugged in point values allow the left hand side to equal the right hand side.
(1) -2x - 3y = -10
-2(-1) - 3(4) ?= -10
2 - 12 ?= -10
-10 == -10
(2) -3x + y = 7
-3(-1) + (4) ?= 7
3 + 4 ?= 7
7 == 7
Since both equations are satisfied by this point, then we can say the point (-1,4) is a solution to the system. Additionally, this means this is a crossing point of the system of equations.
From the given question, we will notice that the dependent variable, as well as the independent variable, are log-transformed in the model. Thus, a 1% increase in S will likely result in 1.2% increase in Y.
