The median price, P, of a home rose from 80$ thousand in 1980 to 240$ thousand in 2000. Let t be the number of years since 1980. (a) Assume the increase in housing prices was linear. Give an equation for the line representing price, P, in terms of t. Use this equation to complete the table below. Note: P is measured in thousands.
P(t)= 8t+80
t / Linear growth price in $1000 units
0 / 80
10 / 160
20 / 240
30 / 320
(b) If instead the housing prices increased exponentially, find an equation of the form P=P0at to represent housing prices. Again, P is measured in thousands. (Round your answer for a to 6 decimal places.)
Use this equation to complete the table below:
t / Exponential growth price in $1000 units
0 / 80
10 / ?
20 / 240
30 / ?

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Step-by-step explanation:

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step-by-step explanation:

a.   since the profit made in 2012 is equal to the profit made in 2014, the profit is           symmetric about the line y = 120,000.

step-by-step explanation:

given that megan owns a clothing boutique.

the profits of 2010, 11, are recorded and shown as follows:

years since     2010 0     1     2     3       4       5

profits made in 1000's   39       84     111     120   111     84

we find that profit gradually increases form 2010 to 2013 upto 120,   then starts decreasing.

the profits for 2012 and 2014 are the same while that of 2011 and 2015 are also the same.

this shows that there is symmetry about the line profit = 120000

hence answer is:

a.   since the profit made in 2012 is equal to the profit made in 2014, the profit is           symmetric about the line y = 120,000.

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