(Answered) A 2012 report by the animal pet products association stated

Management Studies

A 2012 report by the Animal Pet Products Association stated Americans spent $30 billion on their pets in 2002. By 2011, that number measured $51 billion. Let y = amount (in $ billions) Americans will spend on their pets in year x, where x = 0 represents the year 2002.

(a) Which of the following linear equations could be used to predict the amount y (in $ billions) Americans spend on their pets in a given year x, where x = 0 represents the year 2002? Explain/show work.

A. y = - 2.33x + 2002 C. y = - 2.33x - 30

B. y = 2.33x + 2002 D. y = 2.33x + 30

(b) Use the equation from part (a) to predict the amount (in $ billions) Americans will spend on their pets in the year 2026. Round answer to nearest tenth of a billion dollars. Show work.

(c) Fill in the blanks to interpret the slope of the equation: The rate of change of pet expenditure with respect to time is ____________billion dollars per ________________. (Include units of measurement.)

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