Math Problem Statement
Solution
Let's solve the problem step by step using the data provided:
Part a) Write an equation to find the average cost, , of tuition after years.
Step 1: Analyze the data.
The table provides tuition and fees over several academic years. We can treat this as a linear relationship since the increases seem consistent.
- 2012–13:
- 2013–14:
- 2014–15:
- 2015–16:
To model this with a linear equation , we need to find the slope () and the y-intercept ().
Step 2: Calculate the slope .
We can use two points to calculate the slope. Let the year 2012–13 be and each subsequent year increment by 1.
Points:
Using the slope formula: Using points and : Thus, the slope .
Step 3: Find the y-intercept .
Using the point in the equation :
Final equation:
The linear equation is: where is the number of years after 2012.
Part b) Predict when tuition will exceed $10,000.
We need to find such that .
Using the equation: Solving for : Since represents years after 2012, the tuition will exceed $10,000 in approximately 7.38 years, which is sometime in the 2019–20 academic year.
Would you like more details or have any other questions? Here are 5 related questions:
- How can you model a nonlinear increase in tuition?
- Can this model predict the tuition beyond 2020 accurately?
- How would the equation change if there were larger jumps in tuition fees?
- Can the linear equation be adjusted for inflation over time?
- How accurate is using a linear model for tuition prediction?
Tip: Linear models are useful for small, consistent increases but may not hold in the long term if the rate of increase changes drastically.
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Math Problem Analysis
Mathematical Concepts
Linear Equations
Slope-Intercept Form
Algebra
Formulas
Slope formula: m = (y2 - y1) / (x2 - x1)
Linear equation: C(x) = mx + b
Theorems
Slope-Intercept Form of a Line
Suitable Grade Level
Grades 9-12