An equation that is used to predict a certain economy\'s consumption is given be
ID: 2942017 • Letter: A
Question
An equation that is used to predict a certain economy's consumption is given be the linear equation y = 0.65x + 23y, where y is the personal consumption expenditure in billions of dollars and x is the disposable personal income in billions of dollars.
A- Find the disposable personal income of the certain economy if the personal consumption expenditure is $22,750,000,000. Show how you arrived at your answer
B- Interpret the y- intercept in the context of the problem
C- Find x-intercept
D - intercept the slope of the equation . Use the steepness property to interpret the slope
Explanation / Answer
An equation that is used to predict a certain economy's consumption is given be the linear equation
y = 0.65x + 23
that is given equation.
A- Find the disposable personal income of the certain economy if the personal consumption expenditure is $22,750,000,000. Show how you arrived at your answer
0.65x = y - 23
x = (y-23) / 0.65 = 34999999964.61 = aprox 34999999964
B- Interpret the y- intercept in the context of the problem
for y inercept put x = 0 thus
y = 0.65*0 + 23 => y = 23 it is y intercept.
C- Find x-intercept
put y = 0 thus
0.65x + 23 = 0 x = -23/0.65 = -35.38 it is x intercept.
D - intercept the slope of the equation . Use the steepness property to interpret the slope
slope is given by 0.65