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Answer :
Final answer:
The linear equation that models the median existing home price in terms of the year x can be found using the formula y = mx + b, where m is the slope and b is the y-intercept. The slope is approximately 0.09 and the y-intercept is approximately 35.25.
Explanation:
To find the linear equation that models the median existing home price in terms of the year x, we can use the formula y = mx + b, where y represents the home price and x represents the year.
We are given that x = 0 represents the year 2001. So, we need to find the slope (m) and the y-intercept (b).
Using the given information, we can calculate the slope to be approximately 0.09 and the y-intercept to be approximately 35.25.
Therefore, the linear equation that models the median existing home price is y = 0.09x + 35.25.
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