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Question
Family income in the United States has increased steadily for many years (primarily due to inflation). In 1980, the median family income was about $21,000 per year. In 2003, it was about$52,700 per year. Find the average rate of change of median family income to the nearest dollar over that period.
Solution
VerifiedStep 1
1 of 2To use the slope formula, we need two ordered pairs. Here, we let one ordered pair be and the other be .
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