The market share of American automakers has decreased to 47% in approximately linearly from 66% in 2000 2011 (Source: Ward's AutoInfoBank). Let p be American automakers' market share at t years since 2000. a. Find an equation of a linear model to describe the data. b. What is the slope? What does it mean in this situation? c. What is the p-intercept? What does it mean in this situation?

Algebra and Trigonometry (6th Edition)
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ISBN:9780134463216
Author:Robert F. Blitzer
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ChapterP: Prerequisites: Fundamental Concepts Of Algebra
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Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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1.
The market share of American automakers has decreased
approximately linearly from 66% in 2000 to 47% in
2011 (Source: Ward's AutoInfoBank). Let p be American
automakers' market share at t years since 2000.
a. Find an equation of a linear model to describe the data.
b. What is the slope? What does it mean in this situation?
c. What is the p-intercept? What does it mean in this situation?
Transcribed Image Text:1. The market share of American automakers has decreased approximately linearly from 66% in 2000 to 47% in 2011 (Source: Ward's AutoInfoBank). Let p be American automakers' market share at t years since 2000. a. Find an equation of a linear model to describe the data. b. What is the slope? What does it mean in this situation? c. What is the p-intercept? What does it mean in this situation?
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