A poverty threshold represents the minimum annual household income for a family

Question

A poverty threshold represents the minimum annual household income for a family not to be considered poor. In 1995, the poverty threshold for a family of four with two children under the age of 18 years was $15, 520. In 2005, the poverty threshold for a family of four with two children under the age of 18 years was $19, 854. Assuming poverty thresholds increase m a straight-line fashion, use the midpoint formula to estimate the poverty threshold of a family of four with two children under the age of 18 in 2000. The poverty threshold of a family of four with two children under the age of 18 in 2000 is $. Enter your answer m the answer box and then click Check Answer.

Explanation / Answer

In 10 years it has risen to 19654 in 2005

but in 1995 it was 15520

We have to find in 2000 i.e. 5 years from either of 1995 and 2000

As we have to use a midpoint formula, value in 2000 is:

(19654 + 15520)/2 = $17587

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