average rate of change problem

Mathematics
Tutor: None Selected Time limit: 1 Day

i am stuck on the following problem. here is a pic of the problem

http://imgur.com/XDoxHQw

please include all steps in your answer

thanks in advance

Jan 13th, 2015

Hi there,

To calculate the rate of change, you must find the two differences in measurements.

i.e.

The year changes from 2005 to 2009, so we do 2009-2005 to calculate how much it has changed by (=4 years)

We do the same thing with the price: 13,375-10,880 = 2,495


Then to calculate the rate, we do change divided by time

the change is $2495 and the time is 4 years

2495/4 = 623.75


To calculate the units we do unit of change over unit of time, which is $/year


So the rate of change is $623.75 per year.

Jan 13th, 2015

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