Answer :
a) The linear function is: [tex]y = 21.8x + 373[/tex]
b) The estimate for the number of people employed in 2012 is of 569.2.
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A linear function has the following format:
[tex]y = mx + b[/tex]
In which
- m is the slope, that is, how much y changes when x changes by 1.
- b is the y-intercept, which is the value of y when x = 0.
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Item a:
- During the first year of observation, the number of people, in thousands of dollars, was of 373. Thus, the y-intercept is [tex]b = 373[/tex]
- In 10 years, it changed from 373 to 591, thus, the slope is:
[tex]m = \frac{591 - 373}{10} = 21.8[/tex]
The function is:
[tex]y = 21.8x + 373[/tex]
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Item b:
2012 is 9 years after 2003, thus, this is [tex]y(9)[/tex]
[tex]y(9) = 21.8(9) + 373 = 569.2[/tex]
The estimate for the number of people employed in 2012 is of 569.2.
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