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The table above shows the yearly salary, in dollars, of an ...
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The table above shows the yearly salary, in dollars, of an employee at a company. Which of the following best describes the type of model that fits the data in the table?

A) Linear, increasing by approximately \$1,140 per year

B) Linear, increasing by approximately \$1,245 per year

C) Exponential, increasing by approximately 3% each year

D) Exponential, increasing by approximately 9% each year

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School not set Nigeria
06 January 2021

University of Benin Nigeria
06 January 2021
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First, calculate the yearly increase in salary.

If the increase is constant through out each year, a linear model can be applied.

From Year 0 to Year 1, the salary increases by:

39,140 - 38,000 = \$1,140

From Year 1 to Year 2, the salary increases by:

40,314 - 39,140 = \$1,174

From Year 2 to Year 3, the salary increases by:

41,524 - 40,314 = \$1,210

From Year 3 to Year 4, the salary increases by:

42,769 - 41,524 = \$1,245

Since the rate of increase is not constant, a linear model cannot be applied, thus, an exponential model is used instead.

Next, calculate the increase ratio using any year range.

Using year 0 to year 1,

Increase ratio = 39,140/38,000

= 1.03 OR 3%

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