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Suppose the median price, P, of a home increased from $60 thousand in 2000 to $180 thousand in 2010. Let t be the number of years since 2000. Use this information to answer the questions below. (a) Assume the increase in housing prices was linear. Which of the following can be used to express the median price of a home in thousands as a function of t, the number of years since 2000? O P(t) = 12t + 60 OP(t)= 18t + 60 O P(t) = 12t + 180 O P(t) = 3t+ 60 O P(t) = 18t + 180 According to this model, what is the median price of a home in 2020? Give your answer to the nearest thousand. $ thousands (b) If instead the housing prices increased exponentially, which of the following can be used to express the median price of a home in thousands as a function of t, the number of years since 2000? ⒸP(t) = 60(3)/10 OP(t) = 60(1.2)/10 OP(t) = 60(3)(t-2000)/10 OP(t) = 60(1.8)/10 OP(t) = 60(1.8) (t-2000)/10 According to this model, what is the median price of a home in 2020? Give your answer to the nearest thousand. $ thousands

Suppose the median price, P, of a home increased from $60 thousand in 2000 to $180 thousand in 2010. Let t be the number of years since 2000. Use this information to answer the questions below. (a) Assume the increase in housing prices was linear. Which of the following can be used to express the median price of a home in thousands as a function of t, the number of years since 2000? O P(t) = 12t + 60 OP(t)= 18t + 60 O P(t) = 12t + 180 O P(t) = 3t+ 60 O P(t) = 18t + 180 According to this model, what is the median price of a home in 2020? Give your answer to the nearest thousand. $ thousands (b) If instead the housing prices increased exponentially, which of the following can be used to express the median price of a home in thousands as a function of t, the number of years since 2000? ⒸP(t) = 60(3)/10 OP(t) = 60(1.2)/10 OP(t) = 60(3)(t-2000)/10 OP(t) = 60(1.8)/10 OP(t) = 60(1.8) (t-2000)/10 According to this model, what is the median price of a home in 2020? Give your answer to the nearest thousand. $ thousands

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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Suppose the median price, P, of a home increased from $60 thousand in 2000 to $180 thousand in 2010. Lett be the number of years since 2000. Use this information to answer the questions below. (a) Assume the increase in housing prices was linear. Which of the following can be used to express the median price of a home in thousands as a function of t, the number of years since 2000? O P(t) = 12t + 60 O P(t) = 18t + 60 O P(t) = 12t + 180 O P(t) = 3t+ 60 O P(t) = 18t + 180 According to this model, what is the median price of a home in 2020? Give your answer to the nearest thousand. thousands $ (b) If instead the housing prices increased exponentially, which of the following can be used to express the median price of a home in thousands as a function of t, the number of years since 2000? P(t) = 60(3)t/10 P(t) = 60(1.2)t/10 P(t) = 60(3)(t-2000)/10 P(t) = 60(1.8)/10 OP(t) = 60(1.8) (t-2000)/10 According to this model, what is the median price of a home in 2020? Give your answer to the nearest thousand. thousands $
Transcribed Image Text:Suppose the median price, P, of a home increased from $60 thousand in 2000 to $180 thousand in 2010. Lett be the number of years since 2000. Use this information to answer the questions below. (a) Assume the increase in housing prices was linear. Which of the following can be used to express the median price of a home in thousands as a function of t, the number of years since 2000? O P(t) = 12t + 60 O P(t) = 18t + 60 O P(t) = 12t + 180 O P(t) = 3t+ 60 O P(t) = 18t + 180 According to this model, what is the median price of a home in 2020? Give your answer to the nearest thousand. thousands $ (b) If instead the housing prices increased exponentially, which of the following can be used to express the median price of a home in thousands as a function of t, the number of years since 2000? P(t) = 60(3)t/10 P(t) = 60(1.2)t/10 P(t) = 60(3)(t-2000)/10 P(t) = 60(1.8)/10 OP(t) = 60(1.8) (t-2000)/10 According to this model, what is the median price of a home in 2020? Give your answer to the nearest thousand. thousands $
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