Question

The equation y = 1.55x + 110,419 approximates the total amount, in dollars, spent by a household to raise a child in the United States from birth to 17 years, given the household’s annual income, x. Assume the household’s total cost of raising a child is $197,219. What is the household’s annual income?

Answer 1

x=56,000 hope this help

Answer 2

Answer: $56,000

Step-by-step explanation:

Given: The equation $y=1.55x+110,419$ approximates the total amount, in dollars, spent by a household to raise a child in the United States from birth to 17 years, given the household’s annual income, x.

The household’s total cost of raising a child = $197,219

Put the above value in the equation, we get

$197,219=1.55x+110,419\\\Rightarrow\ 1.55x=197219-110419\\\Rightarrow\ x=\frac{86800}{1.55}\\\Rightarrow\ x=56,000$

Hence, the household’s annual income is $56,000.