Please I need help with this question 1 The average value of

Please I need help with this question.

1. The average value of a certain type of automobile was $14,280 in 1992 and depreciated to $5460 in 1997. Let y be the average value of the automobile in the year x, where x = 0 represents 1992. Write a linear equation that models the value of the automobile in terms of the year x.

Solution

Price of automobile in 1992 = $ 14,280

Price of automobile in 1997 = $ 5,460

Let y be the average value of the automobile in the year x.

and we want to write a linear equation that models the value of automobiles in terms of year

we have two points (1992,14280) and (1997,5460)

we can   find the slope from these two points

slope(m) = (y2 -y1) / (x2 -x1)

m = (5460-14280) / (1997-1992)

m = -8820 / 5

m = -1764

we can write the equation in the form y = mx +b // where \"b\" is the y-intercept(i.e. y value for x=0)

for x = 0 we have y =1992 (Given)

now we can write the equation as

y = mx + b

y = -1764 x + 14280