Use an Equation to Solve the Problem

question 17

Multiple Choice

Use an equation to solve the problem. The average price of homes in one neighborhood decreased 4% since last year, a drop of $3,500. What was the average price of a home last year?

• A) $84,500
• B) $89,500
• C) $86,500
• D) $87,500
• E) $83,500

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Definitions:

Analytical Approach

A method of problem-solving or decision-making that involves breaking down a system into its components to understand its structure and dynamics.

Correlation Matrix

A table showing the correlation coefficients between variables, illustrating how changes in one variable are associated with changes in another.

Crystal Ball

In decision-making and forecasting, a metaphorical term used to describe the ability to predict future events or outcomes.

Crystal Ball

A metaphorical term referring to the attempt to predict future events or outcomes, often used in the context of business forecasting or decision making.