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The median home value in lowa and Minnesota (adjusted for inflation) are shown below: Year Iowa Minnesota 1950 38300 47300 2000 82500 122400 If we assume that the house values are changing linearly, a) In which state have home values increased at a higher rate? Minnesota b) If these trends were to continue, what would be the median home value in Iowa in 2010? $ 91340 c) If we assume the linear trend existed before 1950 and continues after 2000, the two states' median house values will be (or were) equal in what year? (The answer might be absurd) The year Basic Funcs Trig

The median home value in lowa and Minnesota (adjusted for inflation) are shown below: Year Iowa Minnesota 1950 38300 47300 2000 82500 122400 If we assume that the house values are changing linearly, a) In which state have home values increased at a higher rate? Minnesota b) If these trends were to continue, what would be the median home value in Iowa in 2010? $ 91340 c) If we assume the linear trend existed before 1950 and continues after 2000, the two states' median house values will be (or were) equal in what year? (The answer might be absurd) The year Basic Funcs Trig

Principles of Economics 2e
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter22: Inflation
Section: Chapter Questions
Problem 35P: With in 1 or 2 percentage points, what has the U.S. inflation rate been during the last 20 years?...
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The median home value in lowa and Minnesota (adjusted for inflation) are shown below: Year Iowa Minnesota 1950 38300 47300 2000 82500 122400 If we assume that the house values are changing linearly, a) In which state have home values increased at a higher rate? Minnesota b) If these trends were to continue, what would be the median home value in Iowa in 2010? $ 91340 c) If we assume the linear trend existed before 1950 and continues after 2000, the two states' median house values will be (or were) equal in what year? (The answer might be absurd) The year Basic Funcs Trig
Transcribed Image Text:The median home value in lowa and Minnesota (adjusted for inflation) are shown below: Year Iowa Minnesota 1950 38300 47300 2000 82500 122400 If we assume that the house values are changing linearly, a) In which state have home values increased at a higher rate? Minnesota b) If these trends were to continue, what would be the median home value in Iowa in 2010? $ 91340 c) If we assume the linear trend existed before 1950 and continues after 2000, the two states' median house values will be (or were) equal in what year? (The answer might be absurd) The year Basic Funcs Trig
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