Question

The median salary for the Dallas Cowboys was $441,300 in 2000 and $1,326,720 in 2008. Write a linear equation giving the median salary y in terms of the year x. Then use the equation and predict the median salary in 2016.

Answer 1

 

The linear equation that is asked from the problem takes the form of:

y = m x + b

where,

y = the median salary

x = the number of years

m = the slope of equation

b = y-intercept

 

The slope of the equation (m) can be calculated using the formula:

m = (y2 – y1) / (x2 – x1)

m = (1326720 – 441300) / (2008 – 2000)

m = 110,677.5

 

The y-intercept is then obtained by using any of the data pair:

441300 = 110677.5 (2000) + b

b = -220913700

 

Therefore the complete equation is:

y = 110677.5 x – 220913700

 

The median salary in 2016 is therefore:

y = 110677.5 (2016) – 220913700

y = $2,212,140

Answer: 

$2,212,140