2. Examine the rise in gasoline prices from 1997 to 2006. The price of regular unleaded gasoline in January 1997 was $1.26 and in January 2006 the price of regular unleaded gasoline was $2.31 (Bureau of Labor Statistics, 2006). Use the coordinates (1997, 1.26) and (2006, 2.31) to find the slope (or rate of change) between the two points. Describe how you arrived at your answer.

= 1 + 1

To find the slope or rate of change between the two points, we can use the formula for slope, which is:

slope = (change in y) / (change in x)

In this case, the change in y represents the change in gasoline prices, and the change in x represents the change in years from 1997 to 2006.

We are given the coordinates (1997, 1.26) and (2006, 2.31). So, the change in y can be calculated by subtracting the initial price from the final price:

change in y = 2.31 - 1.26 = 1.05

The change in x can be calculated by subtracting the initial year from the final year:

change in x = 2006 - 1997 = 9

Now we can use these values to calculate the slope:

slope = (1.05) / (9) ≈ 0.1167

Therefore, the slope (or rate of change) between the two points is approximately 0.1167. This means that on average, the price of regular unleaded gasoline increased by $0.1167 per year between 1997 and 2006.