The average cost of a meal prepared outside of the home was $12.96 in October 2020 and isincreasing at a rate of $0.71 per year. (a) Create a model for this situation. (Recall that you should define the independent anddependent variables and their units, as well as provide an equation.) (b) If this trend continues, what will be the average cost of a meal in April 2023?

A First Course in Probability (10th Edition)
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ISBN:9780134753119
Author:Sheldon Ross
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Chapter1: Combinatorial Analysis
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7. The average cost of a meal prepared outside of the home was $12.96 in October 2020 and isincreasing at a rate of $0.71 per year.

(a) Create a model for this situation. (Recall that you should define the independent anddependent variables and their units, as well as provide an equation.)

(b) If this trend continues, what will be the average cost of a meal in April 2023?

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