Problem

Cable television. The table shows the increase in both price and revenue for cable televis...

Cable television. The table shows the increase in both price and revenue for cable television in the United States. The figure shows a scatter plot and a linear regression model for the average monthly price data in the table.

(A) Interpret the slope of the model.


(B) Use the model to predict the average monthly price (to the nearest dollar) in 2024.

Table for 81 and 82 Cable Television Price and Revenue

Year

Average Monthly Price (dollars)

Annual Total Revenue (billions of dollars)

2000

30.37

36.43

2002

34.71

47.99

2004

38.14

58.59

2006

41.17

71.89

2008

44.28

85.23

2010

47.89

93.37

Source: SNL Kagan

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