QUANTITATIVE REASONING FOR BUSINEss An Inquiry-Based Approacfh PRACTICE TEST 1 (5.4) Suppose the value of your car is given by the formula V-1500t +21000, where V is the value of your car in dollars and t is time in years since the car was purchased. a) What is the slope of this linear function? b) What are the units of the "rise" in this example? c) What are the units of the "run" in this example? d) What are the units of the slope in this example? e) Write a practical interpretation of the slope in this example. f) What does the negative sign in the slope tell you about the value of your car? 215.5) Calculate the slope of each line a) b) d) 3. Y5.7) Suppose you have a linear demand curve Q 55-3P. If you are currently selling your product for $3, by what percentage will the quantity demanded fall if you raise your price to $5? Round to two decimal places