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Examine the rise in chicken prices from 1999 to 2009. Starting in year 0 the price of a whole chicken in January 1999 was $1.07/lb and in January...

Examine the rise in chicken prices from 1999 to 2009. Starting in year 0 the price of a whole chicken in January 1999 was $1.07/lb and in January 2009 the price of a whole chicken was $1.29 (Bureau of Labor Statistics, 2009

Show all detailed calculations and express answers to 3 decimal precision.

a). Use the coordinates (0, 1.07) and (9, 1.29) to find the slope between the two points.



b) What is the equation of the line for these two points in slope intercept form?



c) The standard form of a linear equation is ax + by = c where a > 0 and b ≠ 0. Starting with the slope intercept form derive the equation of the line for these two points in standard form.



d) What would you expect the price of whole chicken to be in January 2011?

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