Question

The equation y = 1.55x + 110,419 approximates the total amount, in dollars, spent by a household to raise a child in the United States from birth to 17 years, given the household’s annual income, x. Assume the household’s total cost of raising a child is $197,219. What is the household’s annual income?

Answer 1

x=56,000 hope this help

Answer 2

Answer: $56,000

Explanation:

Given: The equation
`y=1.55x+110,419` approximates the total amount, in dollars, spent by a household to raise a child in the United States from birth to 17 years, given the household’s annual income, x.

The household’s total cost of raising a child = $197,219

Put the above value in the equation, we get

`197,219=1.55x+110,419\\\Rightarrow\ 1.55x=197219-110419\\\Rightarrow\ x=(86800)/(1.55)\\\Rightarrow\ x=56,000`

Hence, the household’s annual income is $56,000.