In 1980 the average price of a home in Brainerd County was $97,000. By 1986 the average price of a home was $109,000.
What is the slope or rate of change in the scenario?
To find the slope or rate of change, we need to calculate the change in the average price of a home over the given time period.
The change in average price is found by subtracting the initial value from the final value:
Change in average price = $109,000 - $97,000 = $12,000
The time period is 1986 - 1980 = 6 years.
To find the slope or rate of change, we divide the change in average price by the time period:
Rate of change = Change in average price / Time period
= $12,000 / 6 years
= $2,000/year
Therefore, the slope or rate of change in this scenario is $2,000/year.