Math Problem Statement

The table shows the average cost of tuition and fees at a public four-year college for an in-state student. Write an equation to find the average cost, C, of tuition after x years and predict when tuition will exceed $10,000.

Solution

Let's solve the problem step by step using the data provided:

Part a) Write an equation to find the average cost, CC, of tuition after xx 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: 90069006
  • 2013–14: 90779077
  • 2014–15: 91619161
  • 2015–16: 94109410

To model this with a linear equation C(x)=mx+bC(x) = mx + b, we need to find the slope (mm) and the y-intercept (bb).

Step 2: Calculate the slope mm.

We can use two points to calculate the slope. Let the year 2012–13 be x=0x = 0 and each subsequent year increment xx by 1.

Points:

  • (0,9006)(0, 9006)
  • (1,9077)(1, 9077)
  • (2,9161)(2, 9161)
  • (3,9410)(3, 9410)

Using the slope formula: m=y2y1x2x1m = \frac{y_2 - y_1}{x_2 - x_1} Using points (0,9006)(0, 9006) and (3,9410)(3, 9410): m=9410900630=4043134.67m = \frac{9410 - 9006}{3 - 0} = \frac{404}{3} \approx 134.67 Thus, the slope m134.67m \approx 134.67.

Step 3: Find the y-intercept bb.

Using the point (0,9006)(0, 9006) in the equation C(x)=mx+bC(x) = mx + b: 9006=134.67(0)+b    b=90069006 = 134.67(0) + b \implies b = 9006

Final equation:

The linear equation is: C(x)=134.67x+9006C(x) = 134.67x + 9006 where xx is the number of years after 2012.

Part b) Predict when tuition will exceed $10,000.

We need to find xx such that C(x)>10000C(x) > 10000.

Using the equation: 134.67x+9006>10000134.67x + 9006 > 10000 Solving for xx: 134.67x>100009006134.67x > 10000 - 9006 134.67x>994134.67x > 994 x>994134.677.38x > \frac{994}{134.67} \approx 7.38 Since xx 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:

  1. How can you model a nonlinear increase in tuition?
  2. Can this model predict the tuition beyond 2020 accurately?
  3. How would the equation change if there were larger jumps in tuition fees?
  4. Can the linear equation be adjusted for inflation over time?
  5. 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