Question

The Price of Pollo

In El Salvador, "Country Chicken" is the most popular fried chicken franchise
in the country. Like most fast-food establishments, they provide a carry-out
service on their menu. You can buy their chicken in several different
quantities: 2, 6, 9, 15, or 21 pieces per box.
Over the years, prices have steadily risen, as things have a way of doing in
many areas of modern life. For example, on July 1, 1993, a box of two
pieces cost 8.35 colones, and on December 31, 1995, that same purchase
would cost you 11.25 colones.
(Note: prices are given in their original Salvadorean currency, colones; $1 U.S
colones.)
Using these two data 'points', you can form a linear equation of the slope-inter
mx + b. The independent variable x is time; the dependent variable y represe
Your task for this problem is to:
1. Find this equation.
2. Use your equation to predict what the price should have been for a 2
July 1, 1999.

Answer 1

Hope I helped!~

Explanation:

To find the equation of the line, we can use the slope-intercept form of the equation:

y = mx + b

where m is the slope of the line and b is the y-intercept.

Using the two data points given, we can calculate the slope:

m = (11.25 - 8.35) / (1995 - 1993) = 1.95

To find the y-intercept, we can use one of the data points:

8.35 = 1.95(1993) + b

b = -3884.65

So the equation of the line is:

y = 1.95x - 3884.65

To predict the price of a box of two pieces on July 1, 1999, we can substitute x = 6 (since 1999 is 6 years after 1993) into the equation:

y = 1.95(6) - 3884.65

y = 11.7 - 3884.65

y = -3872.95

This gives us a negative price, which obviously does not make sense. It is likely that the price of a box of two pieces was not linearly increasing during this time period, or that there were other factors influencing the price. Therefore, we cannot use this equation to accurately predict the price of a box of two pieces on July 1, 1999.