Average personal income in Hawaii increased approximately linearly from $41.7 thousand in 2010 to $50.6 thousand...

Average personal income in Hawaii increased approximately linearly from $41.7 thousand in 2010 to $50.6 thousand in 2016. Average personal income in Colorado increased approximately linearly from $39.9 thousand in 2010 to $52.1 thousand in 2016 (Source: U.S. Bureau of Economic Analysis).
1. Let H(t) be the average personal income in Hawaii and C(t) be the average personal income in Colorado, both in thousands of dollars, in the year that is t years since 2010. Find equations of H and C.
2. Use substitution or elimination to estimate when average personal income in Hawaii was equal to average personal income in Colorado. What is that average personal income?
3. Use a graphing calculator table or graph to verify the result you found in part (b).
4. Find the average of H(11) and C(11). Assuming the population of Colorado will continue to be larger than the population of Hawaii, will your result likely be an underestimate or an overestimate of the 2021 average personal income of residents of Hawaii and Colorado put together? Explain.

Expert Solution

This is the required graph to verify the year i.e how much time later the the average income of hawai and Colorado are same.

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Colby Messinger answered 2 years ago

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