Question

In 1950, the group spent 23% of their budget on food. This has decreased
at an average rate of approximately 0.27% per year since then. Find a
linear function in slope-intercept form that models the percentage of total
spending, p(x), by the group x years after 1950.

Answer 1

The linear function that can be used to model this relationship is:

y = -0.27x + 23

A linear function is in the form:

y = mx + b

where y, x are variables, m is the rate of change and b is the initial value of y.

Let P(x) represent the percentage of total  spending x years after 1950.

Since In 1950, the group spent 23% of their budget on food, hence b = 23.

Also, this has been decreasing at 0.27% per year. Hence m = -0.27.

The linear function that can be used to model this relationship is:

y = -0.27x + 23

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