Answer:
slope = $50
Step-by-step explanation:
Given the linear equation, y = mx + b:
The slope (m) is the rate of change for every<em> x </em>number of labor hours. What this implies is that whenever the input (x-value) or the number of labor hours increases or decreases, the value of y (total cost) will increase by the given slope value.
Slope: The painting company charges $50 for every 1 hour of labor.
The y-intercept (b) represents the flat rate or initial value. In the given problem, it states that the company charges $500 for supplies. This means that regardless of whether the company finishes working on the painting job, they will charge their customers the flat rate.
Combined, the linear equation will be:
y = 50x + 500
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