In 2014, the average ticket price for top rock concerts, adjusted for inflation, had increased by 77%

Question:

In 2014, the average ticket price for top rock concerts, adjusted for inflation, had increased by 77% since 1995. This was greater than the percent increase in the cost of tuition at private four-year colleges during the same time period. The bar graph shows the average ticket price, in 2015 dollars, for rock concerts in 1995 and 2014.image



In 1995, the average ticket price, in 2015 dollars, for a rock concert was $40.36. On average, this has increased by approximately $1.63 per year since then.


a. Write a formula for the nth term of the arithmetic sequence that describes the average ticket price, in 2015 dollars, for rock concerts n years after 1994.


b. Use the model to project the average ticket price, in 2015 dollars, for rock concerts in 2020.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

College Algebra

ISBN: 9780134453262

7th Edition

Authors: Robert F Blitzer

Question Posted: