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The price for us postage stamps has increased over the years. since 1975, the price has increased from $0.13 in 2005 at a rate that is approximately linear. write a linear model for the price of stamps during this time period. let p represent the price and t represent the number of years since 1975.

Sagot :

It is found that Linear Equation: P = 0.008T + 0.13 and Price of stamp in 2015 = $0.45

What is a linear equation?

A linear equation is an equation that has the variable of the highest power of 1. The standard form of a linear equation is of the form Ax + B = 0.

From 1975 to 2005, 30 years, the price increased from 0.13 to 0.37.

This means the rate of change (slope) = 0.24/30 = 0.008

This means Price changed (increased) by $0.008 per year.

Slope = 0.008

The y-intercept (P) is at the starting point which is at T = 1975; the price was 0.13. Hence y-intercept is 0.13

The equation of a line is given as;

P = mT + b

Where m is the slope and b is the y-intercept.

Now, we can write the linear model equation as;

P = 0.008T + 0.13

Then to find the price of stamp in 2015, we see that this is 40 years later after 1975. So we plug in 40 into T in the equation found above;

P = 0.008(40) + 0.13

P = $0.45

Learn more about linear equations;

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