Question

Tom has just received a new job offer. He is told that his starting salary will be 75,000.00 per year. He is also told that his salary will probably be 83,000.00 in four year. 1. Use the data given to find the rate of change, or the salary increase per year. (HINT;compute the slope) 2. We are now going to use a line to model Tom's Salary growth. Use the Data giving and the slope value from step 1 to write the slope intercept form of the line. 3. Based on your equation from step 2 what will Tom salary be in ten years?

Answer 1

1. Use the data given to find the rate of change, or the salary increase per year. (HINT; compute the slope)
 The slope of the line is given by:
 $m = (y2-y1) / (x2 - x1)$
 Substituting values we have:
 $m = (83000-75000) / (4 - 0) m = 2000$

 2. We are now going to use a line to model Tom's Salary growth. Use the Data giving and the slope value from step 1 to write the slope intercept form of the line. 
 For this case we have an equation of the form:
 $y = mx + b$
 Where,
 m: slope of the line
 b: intersection with the y axis.
 For this case,
 b = 75000 (starting salary)
 m = 2000
 Substituting values:
 $y = 2000x + 75000$

 3. Based on your equation from step 2 what will Tom salary be in ten years?
 For this case, we evaluate x = 10 in the given equation.
 We have then:
 $y = 2000 (10) + 75000 y = 20000 + 75000 y = 95000$