SOLUTION: Trying to do my homework and I don't get the problem: If you make a salary of 53200 in Arkansas, how much would you have to make in Alabama to keep the same standard of living?

Question 1123873: Trying to do my homework and I don't get the problem: If you make a salary of 53200 in Arkansas, how much would you have to make in Alabama to keep the same standard of living?
Chart 2012 Median Income
State Income Index
Alabama $43464 92.4
The chart was given to me for the homework
Arkansas $39018 82.9

Alaska $63648 135.3

Arizona $47044 100.0
Answer by greenestamps(13198) (Show Source): You can put this solution on YOUR website!

The ratio of the state median incomes for Alabama and Arkansas is 43464/39018 = 1.114 to 3 decimal places.

The assumption in the problem is that the standard of living in different states is the same if the ratio of incomes is the same as the ratio of the state median incomes.

So if the salary is $53,200 in Arkansas, the salary needed in Alabama to keep the same standard of living is

$53,200 * 1.114 = $59,262
RELATED QUESTIONS
I am having a lot of trouble with word problem questions. If someone could help me that... (answered by Edwin McCravy)

Can I please get some help with this. 4 pts) For each of the following conditionals, (answered by stanbon)

For each of the following conditionals, identify the antecedent and the consequent. Form (answered by Mathtut)

I'm don't remember how to do my math homework. Problem is Sketch the graph of each line.... (answered by ankor@dixie-net.com)

how do you find the answer for a variable for expansion allowance in highway... (answered by scott8148)

Quick question. 23-(x-7) Trying to understand how this is solved. I know the... (answered by josgarithmetic)

Please help me understand this! I have a test soon and I don`t get how to do this!!!... (answered by checkley71)

Hi I have two homework problems that I cannot seem to quite get. In class and with my... (answered by jim_thompson5910)

I have a problem from an old homework that i still can't solve. How do you solve it?... (answered by algebrapro18)