Question

The equation y=0.18x+1.85 can be used to predict the price of olive oil per quart,where x is the number of years since 2,019. According to the model, what will be theprice of olive oil per quart in 2,0232 Round answer to hundredths place. If theanswer doesn't have a hundredths place then include a zero so that the answer doeshave an hundredths place.

Answer 1

Given:

$y=0.18x+1.85$

Where,

$\begin{gathered} y=\text{ Price of olive oil per quart} \\ x=\text{ Number of years.} \end{gathered}$

In 2019 what will be the price of olive oil per quart in 20232.

$\begin{gathered} x=20232-2019 \\ x=18213 \end{gathered}$

So the price of olive oil per quart is:

$\begin{gathered} y=0.18x+1.85 \\ y=0.18(18213)+1.85 \\ y=3278.34+1.85 \\ y=3280.19 \end{gathered}$

So the olive oil price is 3280.190