Question

use for questions 4-6: the table below shows the average price of a gallon of gasoline.

year	2000	2004	2010	2012	2015

1. find the rate of change from 2004 to 2010.
2. find the rate of change from 2000 to 2012.
3. find the rate of change from 2012 to 2015.

Explanation:

Step1: Q4: Identify price/year values

2004: $2.32$, 2010: $3.02$; $\Delta t=2010-2004=6$, $\Delta p=3.02-2.32=0.70$

Step2: Q4: Calculate rate of change

$\text{Rate} = \frac{\Delta p}{\Delta t} = \frac{0.70}{6} \approx 0.12$

Step3: Q5: Identify price/year values

2000: $2.02$, 2012: $3.64$; $\Delta t=2012-2000=12$, $\Delta p=3.64-2.02=1.62$

Step4: Q5: Calculate rate of change

$\text{Rate} = \frac{\Delta p}{\Delta t} = \frac{1.62}{12} = 0.135$

Step5: Q6: Identify price/year values

2012: $3.64$, 2015: $2.45$; $\Delta t=2015-2012=3$, $\Delta p=2.45-3.64=-1.19$

Step6: Q6: Calculate rate of change

$\text{Rate} = \frac{\Delta p}{\Delta t} = \frac{-1.19}{3} \approx -0.40$

Answer:

1. $\approx 0.12$ dollars per year
2. $0.135$ dollars per year
3. $\approx -0.40$ dollars per year