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?
What does the slope mean in context?
The slope or rate of change in the scenario can be calculated by finding the difference in the average price of a home between the two given years and then dividing it by the number of years.
Slope or rate of change = (Change in average price of a home)/(Change in years)
Slope = ($109,000 - $97,000)/(1986 - 1980)
Slope = $12,000/6
Slope = $2,000 per year
The slope of $2,000 per year means that, on average, the price of a home in Brainerd County increased by $2,000 each year between 1980 and 1986.