The average annual tuition and fees at all 4-year institutions in the US in 2003

Question

The average annual tuition and fees at all 4-year institutions in the US in 2003 was $18,608 and in 2012 was $ 25,114. Let y be the average tuition and fees in the year x, where x = 0 represents the year 2003.   

a) Write a linear equation, in slope-intercept form, that models the growth in average tuition and fees at all 4-year institutions in the US in terms of the year x.

b) Use this equation to predict the average tuition and fees at 4-year institutions in the US in the year 2025.

c) Explain what the slope of this line means in the context of the problem.

Pleae write each step clearly so I can understand. I am a little slow.   Thank you in advance.

Explanation / Answer

Let y be the average tuition and fees in the year x, where x = 0 represents the year 2003.

2003 , x =0 -- $ 18608   

2012 , x= 9 ---- $ 25114

we have two points , find slope = ( 25114 - 18608)/9 -0 = $ 722.89

y = mx + c

y =18608 + 722.89x

In year 2025 ; x= 22 ; y = 18608 + 722.89*22 = $ 34511.56

Slope means : thet avg tution fees increases by 722.89 dollars every year

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