Adam calculates his annual salary (base pay and commission), y, using the model y=0.28x+38,000, where x represents his total sales for the year.(5 points)
1) What is the y-intercept? __________
2) What does the y-intercept mean in context? ______
3) What is the slope? ______
4) What does the slope mean in context?_____
5) If Adam made $45,000 total annual salary, how much was his total sales? _______
1) The y-intercept is 38,000.
2) The y-intercept represents Adam's annual salary (base pay and commission) when his total sales for the year is 0. In other words, if Adam did not make any sales, his annual salary would still be 38,000.
3) The slope is 0.28.
4) The slope means that for every unit increase in Adam's total sales, his annual salary increases by 0.28 units. In other words, the commission component of his annual salary is 0.28 times his total sales.
5) Letting y = 45,000 in the equation y = 0.28x + 38,000, we can solve for x.
45,000 = 0.28x + 38,000
7,000 = 0.28x
x ≈ 25,000
Therefore, Adam's total sales for the year would be approximately $25,000.