1. We mentioned how the price of movie tickets has increased over time with inflation in Unit 6. Let’s let the equation y = 0.50(1.06)x represent the price of movie tickets for the years after 1950.
Using this equation, fill in the following T-table for the years 1950, 1960, 1970, 1980, and 1990. Use X = 0, 10, 20, 30, and 40 to represent these years (the number of years after 1950).
2. Answer these questions:
Do these prices look reasonable?
What is the y-intercept?
Is this growth or decay?
3. Use the extended curve below to predict the ticket prices in the following years:
2000 (x = 50)
2010 (x = 60)
Are these prices reasonable?
4. Answer these questions:
What is the average price of a movie ticket where you live?
What is the price of a matinee?
Substitute the number of years after 1950 that it is right now into the equation y = 0.50(1.06)x. (For instance, if it is 2006, use x = 56.) What answer did you get?
Why do you think this is the same or different from the first answer you gave in this question?