Question

The average price of gas in 2000 was $1.57 per gallon, and $2.30 in 2005. What is the rate of change for each year between 2000 to 2005?

Answer 1

Answer: $ 0.146 per year.

Explanation:

Given: Average price of gas in 2000 = $1.57 per gallon

Average price of gas in 2005 = $2.30 per gallon

The rate of change for each year between 2000 to 2005

=
`\frac{\text{Change in price}}{\text{Change in time}}`

`=\frac{\text{Price in 2005- Price in 2000}}{2005-2000}\\\\=(2.30-1.57)/(5)\\\\=(0.73)/(5)=0.146`

Hence, the rate of change for each year between 2000 to 2005 is $ 0.146 per year.