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Question
A small company did an analysis of their pay scale versus years of experience and found that the line of best fit was y = 2035.6x + 36,000. What does the 2035.6 mean in context of the problem?
Responses
A That employees on average earn $2035.60 per year.That employees on average earn $2035.60 per year.
B That if they had 2035.6 years of experience they would earn $0.That if they had 2035.6 years of experience they would earn $0.
C That they should have 2035.6 years of experience in order to earn the most money.That they should have 2035.6 years of experience in order to earn the most money.
D That for every year of experience they have their salary would increase by $2035.60.

Answer 1

D. That for every year of experience they have their salary would increase by $2035.60. ✓

Explanation :

The equation y = 2035.6x + 36,000 suggests that on average, the salary (y) of an employee can be determined on the basis of their work experience i.e. each employee gets a fixed pay of $36,000 added to the product of $2035.60 and the number of work experience(x) that individual holds thus, more the no. of year of experience, greater the salary.

Answer 2

D) That for every year of experience they have their salary would increase by $2035.60.

Explanation:

A small company did an analysis of their pay scale versus years of experience and found that the line of best fit was:

`y = 2035.6x + 36000`

This is a linear equation in the form y = mx + b, where:

• y is the dependent value.
• x is the independent value.
• m is the slope of the line (or the rate of change).
• b is the y-intercept.

In this case, since the number of years experience would likely affect the salary of an employee:

• x = number of years experience
• y = salary

So, in the context of the problem, the y-intercept 36000 is the initial salary for a new employee (with zero years of experience), and the coefficient 2035.6 represents the rate of change, indicating how much the salary changes for each additional year of experience.

Therefore, in this scenario, the coefficient 2035.6 means:

• That for every year of experience they have, their salary would increase by $2035.60.