Question

Rick buys and sells antiques via the Internet. So far, he has profited $2,502. Based on his profits to date, he developed the following linear model where x represents time in months, and y represents his total profits, in dollars. Interpret the slope.y = 2,502 + 417x

a. An additional month of buying and selling is associated with an additional $2,919 in profits.
b. An additional month of buying and selling is associated with an additional $2,502 in profits.
c. An additional month of buying and selling is associated with an additional $2,085 in profits.
d. An additional month of buying and selling is associated with an additional $417 in profits.

Answer 1

d. An additional month of buying and selling is associated with an additional $417 in profits.

Explanation:

We have general form of intercept form of equation:

y = m*x + c ----- (A)

Given equation is : y = 2502 + 417*x

Rewrite equation: y = 417*x + 2502 ------(B)

comparing equation (B) with equation (A), we get

m = 417 (additional benefits per month) because multiplied factor x is the month.