Main Answer:
The variable
corresponds to the year, pinpointing 2002. It signifies the independent variable in the equation representing the estimated gas price
c) The price of gas in 2002.
Therefore, the correct answer is c) The price of gas in 2002.
Explanation:
In the given equation
represents the independent variable, which is the year. Therefore, the correct answer is (c) "The price of gas in 2002." This interpretation aligns with the standard form of a linear equation, where
is the dependent variable and
is the independent variable. In this context, the equation suggests that the price of gas
is estimated to be $1.50 in the year represented by
), which is 2002.
The coefficient of
, which is 1.40, indicates the rate of change in the price of gas with respect to the year. In this case, it implies that for each unit increase in the year
the price of gas
will increase by $1.40. Therefore,
is a representation of time or the specific year, leading us to conclude that it corresponds to the year 2002.
In summary, the value of
in the equation
) refers to the specific year, and in this context, it represents the year 2002.
Therefore, the correct answer is c) The price of gas in 2002.