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Question 8
Theresa bought a house on 2 January 1970 for £8000. The house was valued by a local estate agent on the same date every 10 years up to 2010. The valuations are sho... show full transcript
Step 1
Answer
To express the valuation price in a logarithmic form, we begin with the equation:
Taking the logarithm of both sides using base 10, we have:
By applying the logarithmic property that states , we can expand the equation:
This shows that the valuation price can indeed be expressed in terms of the logarithm of constants and .
Step 2
Answer
From the graph, we can observe the relationship between and . Using two points from the line of best fit, we can derive the linear equation:
Calculate the slope:
Using the point-slope form to obtain the linear equation:
Rearranging gives the equation of the line.
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