Many of the following problems can be modeled with a linear equation. Analyze them and identify what quantities the variables x and y represent. The information provided in the problems is adequate to determine a point and a slope or two points on the line.
The U.S. Department of Education estimated that the average annual cost (tuition, fees, room, and board) of attending a four-year private college or university was $21,855 in 2000 and $31,704 in 2008.
(a) Find the cost as a linear function of time since 2000.
(b) Use the linear function to estimate the cost in 2015.
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