A real estate agent has developed a linear model for the price of a house, P, in dollars in terms of the area, A, in square feet for the homes in a certain neighborhood. The equation is P=88,000+62.5A. What is the predicated price for a home that is 3,200 square feet? Round to the nearest dollar.(1 point)
____ dollars
The predicted price for a home that is 3,200 square feet is:
P = 88,000 + 62.5A
P = 88,000 + 62.5(3,200)
P = 88,000 + 200,000
P = 288,000
Rounding to the nearest dollar, the predicted price is:
P = $288,000
To find the predicted price for a home that is 3,200 square feet, we need to substitute the value of A into the equation P = 88,000 + 62.5A.
Plugging in A = 3,200 into the equation, we get:
P = 88,000 + 62.5(3,200)
P = 88,000 + 200,000
P = 288,000
Therefore, the predicted price for a home that is 3,200 square feet is approximately $288,000.
To find the predicted price for a home that is 3,200 square feet, we can substitute the value of A=3,200 into the linear equation P=88,000+62.5A.
Therefore, P = 88,000 + 62.5(3,200)
= 88,000 + 200,000
Performing the calculation, we have:
P = 288,000 dollars
So, the predicted price for a home that is 3,200 square feet is $288,000.