The following table is adapted from an article by Marshall Thomas in the F&W Forestry Letter. The data refer to land and timber values in the South. Sawtimber prices are in dollars per thousand board feet. Bare land prices are in dollars per acre and refer to land that has been cleared of timber. (Give your answers correct to two decimal places.) Sawtimber price 179 310 Bare land price Year 1990 1994 299 321 1996 1998 311 395 391 446 (a) What is the average rate of change per year in sawtimber prices from 1994 to 1996? $ 0.5 per thousand board feet per year (b) Calculate an estimate of the sawtimber price in 1995. $ 310.5 dollars per thousand board feet (c) What is the average rate of change per year in bare land prices from 1996 to 1998? $ 25.5 per acre per year (d) Calculate an estimate of the bare land price in 1997. per acre (e) Is there a difference in the price percentage increases when comparing sawtimber prices and bare land prices from 1990 o Yes 1998? o No (f) Would it be better to invest in bare land or in sawtimber, based on your answer from part (e)? o bare land O sawtimber o neither, they both have the same growth rate neither, they both have the same percentage increase in price

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Equations and inequalities describe the relationship between two mathematical expressions.

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A linear function can just be a constant, or it can be the constant multiplied with the variable like x or y. If the variables are of the form, x2, x1/2 or y2 it is not linear. The exponent over the variables should always be 1.