Question

please help me!
according to the BLS, the average price for a gallon of whole milk in 2000 was $2.97. By 2010, the price had risen to $3.36.
during this time period, what was the average annual rate of change in the cost of a gallon of whole milk?
Predict the cost of a gallon of whole milk in the year 2025.

Answer 1

Average rate=total change/time

Answer 2

Change=3.36-2.97=?
Time= 10 years
Can you find average rate by plugging the above values.

Answer 3

so my average rate is 0.39???

Answer 4

you need to divide that difference over 10 years

Answer 5

average rate of change = (change in price)/(change in time)

Answer 6

so 0.039? what?

Answer 7

yes the average rate of change is $0.039 or 3.9 cents

Answer 8

each year, the cost is going up by 3.9 cents

Answer 9

So cost in 2025=current cost+0.039(15)
Because there is a gap of 15 yeas now from 2010-2025

Answer 10

And current cost=3.36

Answer 11

So what's the cost in 2025=?

Answer 12

3.945???

Answer 13

correct

Answer 14

so would an equation representing the approximate value of the cost of a gallon of milk, by year, since 2000 look like: 2.97(x)+0.039?

Answer 15

@Pawanyadav ?

Answer 16

No the equation should be
2.97+0.039(x)

Answer 17

Here x is time right..

Answer 18

oh okay, thank you

Answer 19

Welcome