Question

30 points! The equation y=1.55x + 110,419 approximates the total amount, in dollars, spent by a household to raise a child in the United States from birth to 17 years, given the household’s annual income, x.

What is the approximate average yearly cost of raising a child in a household with an annual income of $33,000

Answer 1

yearly cost $9,504

Explanation:

1.55(33,000)+110,419 =161,569

161,569/17= 9,504.058823529412

took the test

Answer 2

Given:

The equation is

`y=1.55x+110,419`

Here, y approximates the total amount, in dollars, spent by a household to raise a child in the United States from birth to 17 years, given the household’s annual income, x.

To find:

The approximate average yearly cost of raising a child in a household with an annual income of $33,000.

Solution:

We have,

`y=1.55x+110,419`

Put x=33000 to get the total amount, in dollars, spent by a household if annual income of $33,000.

`y=1.55(33000)+110,419`

`y=51150+110,419`

`y=161,569`

So, total amount spent by a household to raise a child in the United States from birth to 17 years is $161,569.

Divide this total amount by 17 to get the average yearly cost of raising a child in a household with an annual income of $33,000.

`(161,569)/(17)=9504.05882353`

`(161,569)/(17)\approx 9504.06`

Therefore, the average yearly cost of raising a child in a household with an annual income of $33,000 is $9504.06.