Activity 1. Getting acquainted with the essential terms and concepts of functions, what also matters is you should also be able to apply these concepts. Now, I will require you to show your complete and clear solution to given mathematical problems to deepen your knowledge. 1. The accompanying graph shows the median income in U.S. households (adjusted for inflation) between 1990 and 2005. Use the graph to answer the following questions, making reasonable approximations where needed. (a) When was the median income at its maximum value, and what was the median income when that occurred? (b) When was the median income at its minimum value, and what was the median income when that occurred? (c) The median income was declining during the 2-year period between 2000 and 2002. Was it declining more rapidly during the first year or the second year of that period? Explain your reasoning. Median U.S. Household Income in Thousands of Constant 2005 Dollars 48 46 Median U.S. Household Income 44 42 1990 1995 2000 2005 Source: U.S. Census Bureau, August 2006