00:01
Hi, now we are going to model consumer price index.
00:04
Now from the given information, we have two points 11, 225 .2 and 16, 249 .9.
00:16
Now the given condition is the consumer price index is a linear equation.
00:21
So we know that linear equation y is equal to mx plus c.
00:25
So first we have to find the slope m.
00:27
Here the slope m will be equal to 249 .9 minus 225 .2 divided by 16 minus 11 and this will be equal to 24 .7 divided by 5 and this will be 4 .94.
00:46
Then we can write y is equal to 4 .94x plus c and then we have to find this intercept point c.
00:55
So i am going to substitute x, y is equal to 11, 225 .2 in the above equation.
01:04
Then we get 225 .2 is equal to 4 .94 multiplied by 11 plus c.
01:12
From this we get c is equal to 225 .2 minus 54 .34 and this will be equal to 170 .86...