Answer:
The slope of the model is [tex]m = 2\,\frac{USD}{yr}[/tex].
The value of the slope indicates that the average cost of a hair cut is increased by 2 US dollars each year.
Step-by-step explanation:
We have to notice that given function is a linear function, that is, a first order polynomial, whose standard form is described below:
[tex]y =m\cdot x + b[/tex]
Where:
[tex]m[/tex] - Slope, dimensionless.
[tex]x[/tex] - Independent variable, dimensionless.
[tex]y[/tex] - Dependent variable, dimensionless.
[tex]b[/tex] - y-Intercept, dimensionless.
In this case, we use the linear function [tex]y = 2\cdot x + 28[/tex], where [tex]x[/tex] is the time after 2000, measured in years, and [tex]y[/tex] is the average cost of a hair cut. The slope of the model is [tex]m = 2\,\frac{USD}{yr}[/tex].
The value of the slope indicates that the average cost of a hair cut is increased by 2 US dollars each year.
