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)
a) What is the y-intercept?
b) What does the y-intercept mean in context?
c) What is the slope?
d) What does the slope mean in context?
e) If Adam made $45,000 total annual salary, how much was his total sales?
a) The y-intercept is 38,000.
b) The y-intercept of 38,000 represents the base pay that Adam receives annually, regardless of his total sales. This is the amount he would earn if he made zero sales.
c) The slope is 0.28.
d) The slope of 0.28 represents the commission rate that Adam earns on each dollar of sales. For every dollar of sales, Adam earns 28 cents as commission.
e) To find out how much Adam's total sales were if he made $45,000 total annual salary, we can set y = 45,000 in the equation:
45,000 = 0.28x + 38,000
7,000 = 0.28x
x = 25,000
Therefore, Adam's total sales for the year were $25,000.