Question

The equation y=0.16x+0.17 can be used to predict the price per pound of mixednuts, where x is the number of years since 1989. According to the model, what willthe price per pound of mixed nuts be in 2,008? Round answer to the nearest cent.

Answer 1

Given equation:

`y=0.16x+0.17`

where x is the number of years since 1989 and y is the price of the mixed nuts

To find: Price per pound for the yeat 2008

Solution:

Calculating the number of years as per 2008 since 1989

`\begin{gathered} =2008-1989 \\ =19 \end{gathered}`

Thus, number of years = x = 19

Now, putting the value of x in the given formula to calculate y

`\begin{gathered} y=0.16*19+0.17 \\ y=3.04+0.17 \\ y=3.21 \end{gathered}`

Hence, Price per pound of mixed nuts is 3.21