Let rental rate be denoted by 'y' and years be denoted by 'x'
coordinates become: (2003,551) (2013,730)
Rental rate in = $551(y1)
Rental rate in =$730(y2).
So, change in rate = [tex]730-551=179[/tex]
Years given are 2003(x1) and 2013(x2) so, change is [tex]2013-2003=10[/tex]
Here, to find the rate we use the slope formula:
[tex]\frac{y2-y1}{x2-x1}[/tex]
Now putting the values of coordinates in the formula we get:
[tex]\frac{730-551}{2013-2003}[/tex]
= [tex]\frac{179}{10}[/tex]
= 17.9
So, the rate of change for rent is $17.9
