Question

Suppose the average yearly salary of an individual whose final degree is a masters is $46 thousand less than twice that of an individual whose final degree is a bachelors. Combined, two people with each of these educational attainments earn $122 thousand. Find the average yearly salary of an individual with each of these final degrees.

Answer 1

Answer:

• average yearly salary of an individual whose final degree is a masters: $ 66 thousand

• average yearly salary of an individual whose final degree is a bachelors: $ 56 thousand

Explanation:

You can set a system of equation using the following steps:

1. Name the variables:

• average yearly salary of an individual whose final degree is a masters: x

• average yearly salary of an individual whose final degree is a bachelors: y

2. Set the equations that relate the variables:

• the average yearly salary of an individual whose final degree is a masters is $46 thousand less than twice that of an individual whose final degree is a bachelors:

        equation (1): x = 2y - 46

• combined, two people with each of these educational attainments earn $122 thousand:

         equation (2): x + y = 122

3. Solve the system:

• x = 2y - 46 . . . equation (1)

• x + y = 122 . . . equation (2)

Substitute equation (1) into equation (2)

• 2y - 46 + y = 122

Solve for y:

• 3y = 122 + 46

• 3y = 168

• y = 168 / 3

• y = 56 (this means that the average yearly salary with a bachelors degree is $ 56 thousand).

Subsitute the value on y in equation 1, to find the value of x:

• x = 2y - 46 = 2(56) - 46 = 112 - 46 = 66.

Thus, the average yearly salary of a person with a masters degree is $ 66 thousand.