The following table gives the average cost, C (in dollars), of a gallon of gas over the last several years, t. Round answers to three decimal places. Year, t Cost ($), C0.18 1960| 1970 0.25 0.36 1980 1990 2009 2013 1.19 1.34 2.05 1.98 1950 a. Find the equation of the line of best fit for the cost as a function of time. (Let 1950 = 0, 1960 = 10, etc.) C(t) = 0.03x+0.012 %3D b. According to the model (part a) what is the average annual increase in the price of gas? (give you answer with three decimal places) $ .975 c. Use the model (part a) to estimate the cost of gas in 2020. $ 2.30

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The following table gives the average cost, C (in dollars), of a gallon of gas over the last several years, t. Round answers to three
decimal places.
Year, t
Cost ($), C0.18
1960| 1970
0.25 0.36
1980 1990 2009 2013
1.19 1.34 2.05 1.98
1950
a. Find the equation of the line of best fit for the cost as a function of time. (Let 1950 = 0, 1960 = 10, etc.)
C(t) = 0.03x+0.012
%3D
b. According to the model (part a) what is the average annual increase in the price of gas? (give you answer with three decimal places)
$ .975
c. Use the model (part a) to estimate the cost of gas in 2020.
$ 2.30
Transcribed Image Text:The following table gives the average cost, C (in dollars), of a gallon of gas over the last several years, t. Round answers to three decimal places. Year, t Cost ($), C0.18 1960| 1970 0.25 0.36 1980 1990 2009 2013 1.19 1.34 2.05 1.98 1950 a. Find the equation of the line of best fit for the cost as a function of time. (Let 1950 = 0, 1960 = 10, etc.) C(t) = 0.03x+0.012 %3D b. According to the model (part a) what is the average annual increase in the price of gas? (give you answer with three decimal places) $ .975 c. Use the model (part a) to estimate the cost of gas in 2020. $ 2.30
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