Question

The equation p = 1.95t² + 12.25t + 125 approximates the average sale price p of a house (in thousands of dollars) for years t since 2010.

What is the best estimate for the price of the house in year 2021?

Answer 1

Answer: $495,700

Explanation:

Given: The equation
`p=1.95t^2+12.25t+125` approximates the average sale price p of a house (in thousands of dollars) for years t since 2010.

In 2021,
`t=2021-2010=11`

To find the best estimate for the price of the house in year 2021, we need to substitute t=11 in the given equation we get,

`p=1.95(11)^2+12.25(11)+125\\\Rightarrow\ p=495.7`

Hence, the best estimate for the price of the house in year 2021 is $495,700.

Answer 2

Resolving p = 1.95t² + 12.25t + 125

year=2010 for t=0

year=2021 for t=(2021-2010)=11

We have that

p = 1.95*(11) ^² + 12.25*(11) + 125

p =495.70 thousands of dollars

p =495700 dollars

is the best estimate for the price of the house in year 2021