Final answer:
The price per square inch is calculated by dividing the total price by the total size in square inches, making the correct formula 'Price/Size'. Size is the independent variable and price is the dependent variable in this context.
Step-by-step explanation:
To calculate the price per square inch, you need to divide the total price by the total size in square inches. This is represented by the formula 'Price/Size'. Given that the size is our independent variable, often denoted as 'x', and the price is the dependent variable, referred to as 'y', we essentially look at how much one square inch costs. It's crucial to have the size in consistent units, meaning everything should be measured in inches when calculating the price per square inch.
To elucidate with an example, if a piece of material costs $10 and has an area of 20 square inches, the price per square inch would be calculated as $10 divided by 20 square inches, resulting in $0.50 per square inch. In this case, the correct option to the initial question is 'a) Price/Size'.