In 1993 the cost of tuition at Midwestern was $144 per credit hour in 1996 tuition has risen to $183 determine linear equation

Answer 1

Let Cost = a function of time and use the year literally. or Cost = Cost(Year)

So, the slope will be (144-183)/(1993-1996) = $13/year

Use the point slope form to fine the equation;

Cost -144 = 13*(Year - 1993) or Cost = 144 + 13*(Year) - 25,909 or Cost = 13*(Year) - 25,765

Check: Cost = 13*(1996) - 25,765 = 183 OK

Cost = 13*(1993) - 25,765 = 144 OK