Part 2: Average Annual Salary of Ohio Employees. 6. Suppose the average annual salary in dollars,...

 

 

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Part 2: Average Annual Salary of Ohio Employees. 6. Suppose the average annual salary in dollars, A, of an Ohio employee is a function of the time of years since 2010, t. An approximate formula is A = 49582 + 1036.52t a. Identify the initial value and growth rate of the function (including units) and write a sentence that explains the practical meaning of each. (2x4 pt = 8 pt) Initial value and a sentence to explain practical Growth rate and a sentence to explain practical meaning. meaning. 7. Suppose the average annual salary in dollars, A, of an Ohio employee is a function of the time of years since 2010, t. An approximate formula is A = 47677 (1+0.031)* a. Identify the initial value and growth rate of the function (including units) and write a sentence that explains the practical meaning of each. (2 x 4 pt = 8 pt) Initial value and a sentence to explain practical Growth rate (as a percentage) and a sentence to meaning. explain practical meaning. b. Use the formula to estimate the average annual salary of Ohio employees in 2025. Round to 2 d.p. (4 pt) b. Use the formula to estimate the average annual salary of Ohio employees in 2025. Do not round your result. (4 pt) C. Use the formula to estimate the year in which the average annual salary of Ohio employees reaches at least $89794. Make sure to express your answer as a year (like 2015). (5 pt) 8. In 2020, the hourly minimum wage for a City of Norwalk worker was $13.60. Suppose the hourly minimum wage in that state will be raised by $0.26 per year. Write a formula to model what Norwalk's hourly minimum wage, W, will be t years after 2020. (5 pt) 9. In 2020, the hourly minimum wage for a City of Madison worker was $13.25. Suppose the hourly minimum wage will be raised by 2.9% per year Write a formula to model what Madison's hourly minimum wage, W, will be t years after 2020. (5 pt) 10. If both cities continue to give raises as described above, will Norwalk or Madison reach an hourly minimum wage of at least $27.50 first? You may use algebra or trial-and-error to determine your solution, but you must show your problem-solving process in detail. Write your conclusion in complete sentences. (10 pt) c. Use the formula to estimate the year in which the average annual salary of Ohio employees reaches at least $89794. Make sure to express your answer as a year (like 2015). (5 pt) ' Part 2: Average Annual Salary of Ohio Employees. 6. Suppose the average annual salary in dollars, A, of an Ohio employee is a function of the time of years since 2010, t. An approximate formula is A = 49582 + 1036.52t a. Identify the initial value and growth rate of the function (including units) and write a sentence that explains the practical meaning of each. (2x4 pt = 8 pt) Initial value and a sentence to explain practical Growth rate and a sentence to explain practical meaning. meaning. 7. Suppose the average annual salary in dollars, A, of an Ohio employee is a function of the time of years since 2010, t. An approximate formula is A = 47677 (1+0.031)* a. Identify the initial value and growth rate of the function (including units) and write a sentence that explains the practical meaning of each. (2 x 4 pt = 8 pt) Initial value and a sentence to explain practical Growth rate (as a percentage) and a sentence to meaning. explain practical meaning. b. Use the formula to estimate the average annual salary of Ohio employees in 2025. Round to 2 d.p. (4 pt) b. Use the formula to estimate the average annual salary of Ohio employees in 2025. Do not round your result. (4 pt) C. Use the formula to estimate the year in which the average annual salary of Ohio employees reaches at least $89794. Make sure to express your answer as a year (like 2015). (5 pt) 8. In 2020, the hourly minimum wage for a City of Norwalk worker was $13.60. Suppose the hourly minimum wage in that state will be raised by $0.26 per year. Write a formula to model what Norwalk's hourly minimum wage, W, will be t years after 2020. (5 pt) 9. In 2020, the hourly minimum wage for a City of Madison worker was $13.25. Suppose the hourly minimum wage will be raised by 2.9% per year Write a formula to model what Madison's hourly minimum wage, W, will be t years after 2020. (5 pt) 10. If both cities continue to give raises as described above, will Norwalk or Madison reach an hourly minimum wage of at least $27.50 first? You may use algebra or trial-and-error to determine your solution, but you must show your problem-solving process in detail. Write your conclusion in complete sentences. (10 pt) c. Use the formula to estimate the year in which the average annual salary of Ohio employees reaches at least $89794. Make sure to express your answer as a year (like 2015). (5 pt) '