Examine the rise and fall of in gasoline prices

Reference no: EM13198839

Examine the rise and fall of in gasoline prices from 1997 to 2010.

a. The price of regular unleaded gasoline in January 1997 was $1.26, and in January 2010, the price of regular unleaded gasoline was $2.78 according to Consumer price index, 2010. Use the coordinates (1997, 1.26) and (2010, 2.78) to find the slope, or rate of change, between the two points. Describe (or show) how you arrived at your answer.

b. The price of regular unleaded gasoline in January 2008 was $3.10, and in January 2009, the price of regular unleaded gasoline was $1.84 according to the Consumer price index, 2010 (Yes, the price actually went down!). Use the coordinates (2008, 3.10) and (2009, 1.84) to find the slope, or rate of change, between the two points. Describe (or show) how you arrived at your answer.

Reference no: EM13198839

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