The average cost of a movie ticket is $9.50. Homework Help ✎
If the cost is increasing 4% per year, in how many years will the cost double?
What is the average rate of change of the cost of a movie ticket over the interval of the next 10 years? Explain what the average rate of change means in this context.
Construct a representation of this scenario using the generic exponential equation:
y = abx
Solve for x (the number of years):
2(9.50) = 9.50(1.04)x
≈ 17.67 years
The average rate of change is the same as asking for the slope of a line.
What is the equation for slope, if the price is x and time is y?