The following function represents the value of a house after x years:
f(x) = 242,000(0.96)x
What does 0.96 represent?
The present value of the house
The value of the house after x years
The increase in the value of the house per year, which is 4%
The decrease in the value of the house per year, which is 4%
The answer is: The decrease in the value of the house per year, which is 4%.
A retail company is studying how employees are divided by job classification, such as employee, manager, and senior manager. Which of the following displays could be used to represent the data, and why?
Box plot; because job classification is categorical
Box plot; because job classification is numerical
Bar chart; because job classification is categorical
Bar chart; because job classification is numerical
The answer is: Bar chart; because job classification is categorical.
Sarah described the following situation:
When fertilizer was added to one plant and nothing was added to another plant, there was a noticeable difference in the color of the leaves of the plants.
Which of the following best describes the situation?
This is an example of correlation but not causation.
This is an example of causation but not correlation.
This is an example of both correlation and causation.
This is an example of neither correlation nor causation.
The answer is: This is an example of correlation but not causation.
0.96 represents the decrease in the value of the house per year, which is 4%.
In the given function, f(x) = 242,000(0.96)^x, the value of 0.96 represents the decrease in the value of the house per year, which is 4%.
To understand why 0.96 represents a decrease of 4%, let's break it down:
The function calculates the value of the house after x years by multiplying the initial value of the house, 242,000, by a factor of (0.96)^x.
In general, when we have a number less than 1 raised to a power, it represents a decrease. In this case, 0.96 is less than 1. So, for each year (x), the value of the house decreases by 4%.
For example, if x = 1, the function becomes f(1) = 242,000(0.96)^1 = 232,320. This means that after 1 year, the house will be worth $232,320, which is a decrease of 4% from the initial value.
So, the correct answer is: The decrease in the value of the house per year, which is 4%.