Answer:
[tex]y=\frac{1}{30}(x-7)+1.5[/tex]
2.8 million is what we get in 2047
Step-by-step explanation:
Ok I see the following given in 2007, the medium salary is 1.5 million and in 2013 the medium salary is 1.7 million.
It says let x=7 represent 2007 so that means x=13 would represent 2013.
It also says y is in millions so y=1.5 means 1.5 million and y=1.7 means 1.7 million.
So we have these points that we need to find a line for: (7,1.5) and (13,1.7).
The slope can be found by using the slope formula given two points. This looks like this (y2-y1)/(x2-x1).
I like to line the points up and subtract then put 2nd difference over 1st difference.
Let's do that.
(13, 1.7)
-(7, 1.5)
-----------
6 .2
The slope is .2/6 or 2/60 (after multiplying top and bottom by 10) or 1/30 (after dividing top and bottom by 2)
So point slope form for this line is [tex]y-1.5=\frac{1}{30}(x-7)[/tex].
To get the point slope form for this line I just entered my m (the slope) and point (x1,y1) I knew on the line (like (7,1.5) ). Point slope form is [tex]y-y_1=m(x-x_1)[/tex].
So adding 1.5 on both sides of [tex]y-1.5=\frac{1}{30}(x-7)[/tex] gives me [tex]y=\frac{1}{30}(x-7)+1.5[/tex]
So now it says what is the medium salary in 2047 I believe. So we are going to plug in 47.
This gives us
[tex]y=\frac{1}{30}(47-7)+1.5[/tex]
[tex]y=\frac{1}{30}(40)+1.5[/tex]
[tex]y=\frac{4}{3}+1.5[/tex]
[tex]y=2.833333333333333333333333[/tex]
So 2.8 million