Answer:
The correct option is 2. The best estimate for the price of the house in year 2018 is $407,000.
Step-by-step explanation:
The given equation is
[tex]p = 1.65t^2+18.25t+155[/tex]
Where p is the average sale price of house (in thousands of dollars) and t is number of years since 2010.
We have to find the best estimate for the price of the house in year 2018. The difference between 2018 and 2010 is 8 years.
Substitute t=8.
[tex]p = 1.65(8)^2+18.25(8)+155[/tex]
[tex]p = 1.65(64)+18.25(8)+155[/tex]
[tex]p=406.6[/tex]
[tex]p\approx 407[/tex]
Therefore the estimate for the price of the house in year 2018 is 407 thousand dollars, i.e.,$407,000. Option 2 is correct.
