In 1981 the Average Tuition for One Year at a Certain

question 83

Multiple Choice

In 1981 the average tuition for one year at a certain state school was $1,800.Thirty years later,in 2011,the average cost was $13,700.What was the growth rate in tuition over the 30-year period?

• A) 12%
• B) 9%
• C) 6%
• D) 7%
• E) 8%

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Definitions:

Fashion Models

Individuals primarily engaged in showcasing clothing and accessories as part of the fashion industry.

Rapidly

Occurring in a short time or at a fast pace.

Maximizing

The strategy of seeking the best possible outcome or the highest possible utility when making a decision.

Availability Heuristic

A cognitive bias that causes people to overestimate the probability of events associated with memorable or vivid examples.