In 2006, the median of an existing home in some country was approximately $224,000. In 2001 the median of an existing home was $151,400. Let y be the median price of any existing home in year x. Where x=0 represents 2001. (Show all Work)
A) Write an linear equation that models the median existing home price in terms of year x. (hint the line must pass through the points (0,151400) and (5,224000).) (Type the answer in slope-intercept form)
B) Use the linear equation to predict the median existing home price for the year 2010.
C)Interpret the slope of the equation found in part a. Choose the best answer
a) Every year, the median of a home increases by $14,520
b) Every year, the median of a home decreases by $151,400.
c) Every year, the median of a home decreases by $14,520
d) Every year, the median of a home increase by $151,400.