Answer:
A person who holds a master's degree would earn an average $63,000
A person who holds a bachelor's only would earn an average $53,000
Step-by-step explanation:
We will need to construct equations from the sentences.
Firstly, let the yearly average for a master's degree holder be m and that of bachelor's be b.
Now, we know that someone with a master's earn 43000 less than twice what someone with bachelors earn.
Mathematically,
m = 2b - 43,000
Combined, they have an average salary of 116,000
Mathematically,
m + b = 116,000
Now we have 2 equations to solve simultaneously.
m = 2b - 43,000 ......(i)
m + b = 116,000 .......(ii)
We can sub I into ii
2b - 43,000 + b = 116,000
2b+b = 116,000 + 43,000
3b = 159,000
b = 159,000/3 = 53,000
m = 2b - 43,000
m = 2(53,000) - 43,000 = 63,000
