SOLUTION: The table lists data regarding the average salaries of several professional athletes in the years 1991 and 2001. a.) Use the data points to find a linear function that fits the

Algebra ->  Linear-equations -> SOLUTION: The table lists data regarding the average salaries of several professional athletes in the years 1991 and 2001. a.) Use the data points to find a linear function that fits the      Log On


   

Question 156551: The table lists data regarding the average salaries of several professional athletes in the years 1991 and 2001.
a.) Use the data points to find a linear function that fits the data.
b.) Use the function to predict the average salary in 2005 and 2010.
Year Average Salary
1991------------266,000
2001------------1,410,000
A linear function that fits the data is S(x)=
(Let x= number of years since 1990, and let S= the average salary x years from 1990.)
Answer by gonzo(654) About Me  (Show Source):
You can put this solution on YOUR website!
y+=+%28x%282001%29+-+x%281991%29%29+%2F+%282001+-+1991%29
that's the formula to use to determine the average increase in salary per year.
substituting values, the formula becomes
y+=+%281410000+-+266000%29+%2F+%282001+-+1991%29
resulting in
y+=+1144000+%2F+10
resulting in
y+=+114400 dollars increase in each year.
formula for estimating future salaries would then become.
y+=+1410000+%2B+%28n+%2A+114400%29
where n is the number of years from 2001.
testing the formula using original data, the formula would become
y+=+266000+%2B+%2810+%2A+114400%29
which becomes
y+=+266000+%2B+1144000
which becomes
y+=+1410000
where 266000 was the salary in 1991 and 1410000 is the salary 10 years later (2001).