Please show all work for full credit and box final solution with appropriate units.
1. With US Census Bureau data, the model that relates the average annual earning (in thousands of dollars)
of females, F, and males, M, with various education backgrounds was found to be F 0. 78M - 1.316-
(a) (2 pts) Graph this model for males making between $0 $100,000 and females earning $0 $100,000.
Sketch the graph below. Label axes and tick marks.
(b) pt) The point 50,37.684)lies on the graph of this model. Interpret the meaning as a complete
(c) (2 pts) Find the average annual female earnings that correspond to male earnings of $62,500.
2. (4 pts) Suppose the cost of business property is $590,625 and a company wants to use a straight-line
depreciation schedule for period of 135 months. If is the value of this property after x months, write the
equation of this depreciation schedule.
3. The consumer price index for urban consumers (CPI-U) for the years 1985 to 2005 can be accurately
approximated by a linear model. In 1985, the price consumers pay for good that cost $100 in 1982 is
$113.20. In 2005, the price consumers pay for good that cost $100 in 1982 is $324.90
(a) (4 pts) Write the equation of the linear model where x represents the year and y represents the price
consumers pay in year x for goods that cost $100 in 1982.
(b) (2 pts) Interpret the slope of this linear model as a complete sentence.
4. (5 pts) An individual has two low-interest loans, one at 4% interest and the other at 6% interest. The
amount borrowed at 6% is $250 more than the amount borrowed at 4%. If the total interest for one
year is $165, how much money is borrowed at each rate? Write your answer as a complete sentence.
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