Kenneth started saving for retirement at age 40 with plans to retire at age 70. He invested an average of $400 per month in vari
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Answer:
(A) The rate of change in the price of a bushel of corn in the current year is $7.
(B) The price of a bushel of corn in the current year is $2 more than the price of a bushel of corn in the previous year.
Step-by-step explanation:
The graph for the prices of different numbers of bushels of corn at a store in the current year is shown below.
Part A:
The rate of change in the price of a bushel of corn in the current year based upon the number of bushels is known as the slope of the line.
The formula to compute the slope is:
Consider the ordered pairs: (4, 28) and (10, 70)
Compute the slope of the line as follows:
Thus, the rate of change in the price of a bushel of corn in the current year is $7.
Part B:
The data for the price of bushels in the previous year is as follows:
Number of Bushels Price
2 10
4 20
6 30
8 40
Compute the rate of change in the price of a bushel of corn in the previous year based upon the number of bushels as follows:
Consider the ordered pairs: (2, 10) and (6, 30)
The rate of change in the price of a bushel of corn in the previous year is $5.
Thus, the price of a bushel of corn in the current year is $2 more than the price of a bushel of corn in the previous year.
