As a poor faculty member I have a finite budget for lunch. I can afford to spend

Question

As a poor faculty member I have a finite budget for lunch. I can afford to spend no more than $8 per day. Alarmingly, the cost of food in the dining hall has been rising steadily. Being a compulsive physicist I always get the same meal and I keep track of the cost. Below is my record of when the prices have changed and how much it costs me. At what point in the future is it likely that I will no longer be able to afford to buy lunch? Explain how you arrive at this conclusion. What is vour uncertainty in this date? How did vou arrive at that uncertainty? Date 11/12/02 6/15/04 10/31/06 1/28/08 Price $4.75 $5.15 $5.85 $6 $6.50 $6.75 $7.10 $7.55 6/21/12 12/25/14 9/8/15

Explanation / Answer

Lets consider the latest year 2015 in which the raise of the amount is to 7.55 within a span of 9months.

comparing 2014 and 2015 the amount has raised from 7.10 to 7.55 i.e. $0.45 has incresed.

So, for 9 months the amount incresed is 0.45dollars then for one month its 0.45/9 = $0.05

So, the amount paid by Physicst for his food as of the latest year is $7.55.

so to reach his budget of $8 , 0.45 dollars increse in the bill is balance

for one month the rais ein bill amount is 0.05 dollars

for how many months will the bill raise to 0.45 dollars is : 0.45/0.05 = 9 months

from 8th september 2015 , after 9 more monthsi.e, 06/june/2016 the bill will be $8

so the Physicst can afford 8dollars for his food till 06-june-2016

and from 06-july-2015 he wil not be able to afford for his food with regard to his budget.

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