Need help finding CPI for 1996 and 2002 Fall 2016 Math 151 H

Fall 2016 Math 151 Homework: 2.3 Linear Models Score: 0.33 of 1 pt Score: 53.33%, 2.67 of 5 pts Bus Econ 2.3.5 B. y=-5x + 142.2 C. y=5x-142.2 152.2 In 1992, the CPI would be Type an integer or a decimal.) rS In 2003, the CPI would be approximately 2) (Type an integer or a decimal) se

Solution

1)

The equation of line will be of the form

y = mx + C

x = 0 corresponds to the year 1990

y(0) = m(0) + C = C = 142.2

Since x=0 corresponds to year 1990, hence x=10 will correspond to year 2000

y(2000-1990) = m(10) + C = 192.2

10m + C = 192.2

10m = 50

m = 5

Hence the equation of line will be

y = 5x + 142.2

year 1992 corresponds to the value of x=2

y = 5(2) + 142.2 = 152.2

year 2003 corresponds to the value of x=13

y = 5(13) + 142.2 = 207.2

2)

The equation of line will be of the form

y = mx + C

x = 0 corresponds to the year 1990

y(0) = m(0) + C = C = 114.3

Since x=0 corresponds to year 1990, hence x=10 will correspond to year 2000

y(2000-1990) = m(10) + C = 154.3

10m + C = 154.3

10m = 40

m = 4

Hence the equation of line will be

y = 4x + 114.3

year 1996 corresponds to the value of x=6

y(1996) = 4(6) + 114.3 = 138.3