Formula for predicting the average cost


Assume that in the year 2000, the cost of compact car averaged $ 12500 and that in 2003, the cost averaged $ 14300. Supposing that the relationship between year t and cost c is linear, develop a formula for predicting the average cost of a compact car in the future. Be sure to use the lower case variables t and c.

What do you predict the average cost of a compact car will be in the year 2006

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Basic Statistics: Formula for predicting the average cost
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