F(x)=ax+b Word problem.

Question

In 1995 the average family income was about 41,000 and in 2015 it was about 60,312.

Let X equal zero represent 1995

X equals one represent 1996 and so on .

Find values of A and B (rounded to one decimal place if necessary)

so that f(x) = ax+b models the data .

Answer 1

The slope m= (60312 - 41000) / 20 = 965.6

intercept B = 41000 - 965.6*0 = 41000 and is in fact given to be (0,41000)

the equation is y = $965.60 * x + 41000