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A local utility finds that when the price of natural gas (dollars per mcf) is 3.52 the average household uses 4.17 mcf. Further, when the price is 4.65 an average household uses 3.65 mcf. Calculate the slope of a linear function that describes this relationship. Use the price of natural gas as the independent variable.

When the price of natural gas is 3.12 per mcf, an average household uses 4.38 mcf. When the price of natural gas is 4.89, an average household uses 3.88 mcf. Calculate the usage of an average household when the price of natural gas is 3.67. The price of natural gas is the independent variable.

Can someone please explain these to me? They’re both different and I need help understanding.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91421743

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