Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A) The luxury tax threshold in a professional sports league is the amount in total payroll that teams must stay under to prevent being levied

image text in transcribed
image text in transcribed

A) The luxury tax threshold in a professional sports league is the amount in total payroll that teams must stay under to prevent being levied a competitive balance tax by the league's commissioner. One model that could be used to represent the amount of the league's luxury threshold A, in millions of dollars, t years since 2003 is A (t) = 120(1.033)'. Suppose a second model assumed that the league's luxury threshold was $117 million in 2003 and increased by 3.5% each year. How would the function A (t) change to represent the second model? (1 point) The coefficient changes from 120 to 103.5, and the base changes from 1.033 to 0.17. The function that represents the second model is A (t) = 103.5(0.17t). The coefficient changes from 120 to 103.5, and the base changes from 1.033 to 1.17. The function that represents the second model is A (t) = 103.5(1.17)t. The coefficient changes from 120 to 117, and the base changes from 1.033 to 0.035. The function that represents the second model is A (t) = 117(0.035)t. The coefficient changes from 120 to 117, and the base changes from 1.033 to 1.035. The function that represents the second model is A (t) = 117(1.035)t.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Calculus One And Several Variables

Authors: Saturnino L Salas, Garret J Etgen, Einar Hille

10th Edition

0470472766, 9780470472767

More Books

Students also viewed these Mathematics questions

Question

What evidence supports high-performance organizations success?

Answered: 1 week ago