Plot the Point on a Rectangular Coordinate System $$\text { Average Credit Card Debt, Selected Households }$$

question 327

Multiple Choice

Plot the point on a rectangular coordinate system.
-The figure represents the average credit card debt for selected households in Silerville. $$\text { Average Credit Card Debt, Selected Households }$$

Let y represent the credit card debt in dollars. Let x represent the year, where x = 0 corresponds to the year 1990, x = 4 represents 1994, and so on.
a. Use the ordered pairs given in the graph, (0, 3581) and (16, 8106) to find a linear equation to estimate the
Average credit card debt versus the year. Round the slope to the nearest tenth.
b. Use the model from (a) to estimate the average debt in 2003. Round to the nearest dollar.
c. Interpret the slope of the model in the context of this problem.

• A) a. \(y = 282.8 x + 3,581\) b. \(\$ 7,257\) in 2003 c. The average household credit card debt is increasing at approximately \(\$ 3,581\) per year.
• B) а. \(y = 282.8 x + 3,581\) b. \(\$ 7,257\) in 2003 c. The average household credit card debt is increasing at approximately \(\$ 283\) per year.
• C) a. \(y = - 282.8 x + 3,581\) b. \(\$ 95.4\) in 2003 c. The average household credit card debt is decreasing at approximately \(\$ 283\) per year.
• D) a. \(y = 282.8 x + 3,581\) b. \(- \$ 95.4\) in 2003 c. The average household credit card debt is decreasing at approximately \(\$ 3,581\) per year.

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Definitions:

Money Supply

The total amount of monetary assets available in an economy at a specific time, including cash, coins, and balances held in checking and savings accounts.

Inflation

The rate at which the general level of prices for goods and services is rising, eroding purchasing power.

Global Economy

An interconnected world economy where goods, services, and financial capital move across national borders, influenced by global events and policies.

Structural Reasons

Fundamental causes or conditions related to the organization or structure of a system, process, or entity.