Question

The median household incomes in dollars in four towns over time are shown. Assume the median incomes increase linearly. Median Household Income Year20102015Adderley47,20058,200Bonniville52,90062,400Clay City44,60057,600Daletown41,50054,000 In which town is the median household income increasing at the lowest rate?

Answer 1

In Bonneville the median household income increased at the lowest rate between 2010 and 2015, just 18%.

Explanation:

1. Let's review the information given to us to answer the question correctly:

Median Household Income Year 2010 2015

Adderley 47,200 58,200

Bonneville 52,900 62,400

Clay City 44,600 57,600

Daletown 41,500 54,000

2. In which town is the median household income increasing at the lowest rate?

Let's calculate the increasing rate for each city this way:

Increase rate = (Median household income for 2015/Median household income for 2010) - 1

Adderley increase rate = 58,200/47,200 - 1 = 0.233 = 23.3%

Bonneville increase rate = 62,400/52,900 - 1 = 0.18 = 18%

Clay City increase rate = 57,600/44,600 - 1 = 0.291 = 29.1%

Daletown increase rate = 54,000/41,500 - 1 = 0.301 = 30.1

In Bonneville the median household income increased at the lowest rate between 2010 and 2015, just 18%.