8th Edition

ISBN: 9780134178967

Author: John Tobey Jr., Jeffrey Slater, Jamie Blair, Jenny Crawford

Publisher: PEARSON

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Textbook Question

Chapter 3.3, Problem 57E

Cost of Homes The median sale price of single-family homes in the United States has been increasing steadily. The increase can be approximated by a linear equation of the form y = m x + b . The U.S. Census Bureau reported that in 2000 the median sale price of a single-family home in the United States was $174,900. In 2014, the median sale price of a single-family home was $283,600. We can record the data as follows:

Number of Years Since 2000	Median Price of Home in Thousands of Dollars
0	174.9
14	283.6

Source www.census.gov

Use the table of values on p. 153 for exercises 54 - 57.

Use your graph to estimate the median cost of a home in 2010 (10 years after 2000).

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Chapter 3.3, Problem 56E

Chapter 3.3, Problem 58E

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Solution Summary: The author calculates the median cost of a home in 2010 using the graph if the data for 2000, 2014, and 2025 is provided below.

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