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Answer:
(a) m = 0.47, b = 154.30
(b) b = fixed costs, listed as insurance and car payments.
Explanation:
(a) All you're required to do here is recognize that the fixed costs of $154.30 for insurance and car payments represent the constant part of the monthly expense. And, the $0.47 per mile represents the mileage-related part of the monthly expense. Of course the mileage-related charge is the product of the per-mile charge ($0.47) and the number of miles (x).
Then the monthly charge is ...
monthly cost = mileage-related cost + constant (fixed) cost
y = mx + b
y = 0.47x + 154.30 ⇔ m = 0.47, b = 154.30
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(b) The 'b' in the equation is the fixed monthly cost: $154.30 for insurance and car payment.