Question

You are trying to buy a house and determining if there is a house shortage. in 2007 there were 95 houses for sale. in 2008 there were 112 for sale. find the rate of change.

Answer 1

The rate of change in the number of houses for sale from 2007 to 2008 is 17 houses per year, indicating an increase in the inventory of houses available.

Step-by-step explanation:

To find the rate of change in the number of houses for sale from 2007 to 2008, we can use the formula for the rate of change, which is:

Rate of Change = (Change in Quantity) / (Change in Time)

In this case, the change in quantity is the number of houses for sale in 2008 minus the number of houses for sale in 2007. So the calculation is:

(112 houses in 2008 - 95 houses in 2007) / (2008 - 2007) = 17 houses / 1 year

The rate of change is therefore 17 houses per year. This means there were 17 more houses for sale in 2008 than in 2007, signaling an increase in the inventory of houses available.