Slope and Linear Equation Letter: The Issue of Salary Levels (Statistics Project Sample)
The task required me to submit a business letter with answers to a Mathematical issue. The mathematical problem involved the use of Slope and Linear equations. The sample calculated the rate of increase for each level of employee over time. Also a mathematical model that calculated the employees salaray was provided. lastly, the sample provided the number of years to work to be promoted to LEVEL 2 and level 3.source..
Slope and Linear Equations Letter
The employees' salary is at three levels. Level one Employees begin at 15,000 dollars and at the end of year three, the salary is expected to increase to 19,000 dollars. Level two starts at $30,000, and their salary should increase to $36,000, and level 3 starts at $50,000, and by the end of year three, the salary rises to $58,000. We are supposed to calculate the increase rate for each level over time.
First, we find the rate of change in the Salary. The salary starts at $15,000 and rises to $19000.
Growth= (Salary at the end of the 3rd year-Salary at the beginning of the first year)/time
= $1333.33 each year
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