For the period 1995-2002, the total personal expenditures (in billions of dollars) in the United States for food, f(x), and for housing, h(x), can be described by the equations shown below, where x is the number of years past 1995.†
f(x) = 40.74x + 742.65 and h(x) = 47.93x + 725
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To find the total personal expenditures for food and housing for a given year between 1995 and 2002, you can substitute the value of x (the number of years past 1995) into the corresponding equation.
For example, to find the total personal expenditures for food in the year 1998 (x = 3), you would substitute x = 3 into the equation f(x) = 40.74x + 742.65:
f(3) = 40.74 * 3 + 742.65
= 122.22 + 742.65
= 864.87 billion dollars
Therefore, the total personal expenditures for food in the year 1998 would be approximately 864.87 billion dollars.
Similarly, to find the total personal expenditures for housing in the year 2000 (x = 5), you would substitute x = 5 into the equation h(x) = 47.93x + 725:
h(5) = 47.93 * 5 + 725
= 239.65 + 725
= 964.65 billion dollars
Therefore, the total personal expenditures for housing in the year 2000 would be approximately 964.65 billion dollars.