Answer:
a) $0.95
b) $7.95
c) $12.70
Step-by-step explanation:
Please refer to the diagram below to understand the complete question. The equation for line of best fit is: [tex]y = 0.95x + 7.95[/tex] ; where [tex]x[/tex] represents the number of years of experience and [tex]y[/tex] represents the hourly pay rate.
We use this equation to find the answers.
a) To find the pay rate increase per year of experience, we substitute [tex]x= 1[/tex] in the equation of line of best fit.
[tex]y = 0.95x + 7.95\\y=0.95 (1) + 7.95\\y=0.95 + 7.95\\y= 8.90[/tex]
and then [tex]x= 2[/tex]
[tex]y =0.95x +7.95\\y=0.95(2)+7.95\\y=1.90+7.95\\y=9.85\\\\[/tex]
Find the difference between both years:
9.85-8.90 = 0.95
Answer is $0.95
b) To find the pay of a cashier with zero experience, we substitute [tex]x=0[/tex] in the equation.
[tex]y = 0.95x +7.95\\y= 0.95(0)+7.95\\y=0+7.95\\y=7.95[/tex]
Answer is $7.95
c) A cashier with five years of experience, [tex]x=5[/tex] will receive:
[tex]y=0.95x + 7.95\\y=0.95(5) + 7.95\\y=4.75+7.95\\y=12.70\\[/tex]
Answer is $12.70
Missing Part of Question:
As the question is missing information, I have searched for it and I am attaching one which closely resembles this one.
Answer:
Step-by-step explanation:
Given:
y = 0.9x + 8.3 -------------- (1)
Part (a):
Let x be the value of experience at any year. Then x+1 be the value of experience after 1 year.
Similarly, let y be the hourly pay rate for any random year. Then, Ynew = y + 1 be the hourly pay rate after 1 year.
Hence,
Ynew = 0.9(x+1) + 8.3
Increase in profit can be obtained by subtraction y from Ynew
Increase in profit = y - ynew = [0.9(x+1)+8.3] - 0.9x + 8.3
Increase in profit = 0.9 dollars per hour
(Can also be obtained by taking slope of given equation)
Part (b):
For zero years of Experience x = 0; equation (1) will become
y = 0.9(0) + 8.3
y = 8.3 dollars per hour
Part (c):
For seven years of Experience x = 7; equation (1) will become
y = 0.9(7) + 8.3
y = 14.6
