U.S. represents a cost where half of homes are worth more and half of homes are worth less. This following table compares median home prices in the U.S. with the average non-manager compensation for U.S. workers. Note that these values are adjusted for inflation. • Let f(t) model the median home price in the U.S. in dollars for year t. • Let g(t) model the average non-manager compensation in the U.S. in dollars for year t. • Let h(t) model the RATIO of the median home price to the average non-manager compensation in the U.S. in terms of the year, t. That is, f(t) h(t) = g(t) median home price (in dollars) in U.S., f(t) average non-manager compensation (in dollars) in U.S., g(t) year, h(t) t 1965 167,700 39,500 4.25 1973 165,930 46,400 3.58 1978 172,600 47,200 3.66 1989 197,800 44,700 4.43 1995 181,500 45,600 Preview 2000 200,500 47,900 Preview 2010 215,000 52,700 Preview 2013 202,600 52,100 Preview
U.S. represents a cost where half of homes are worth more and half of homes are worth less. This following table compares median home prices in the U.S. with the average non-manager compensation for U.S. workers. Note that these values are adjusted for inflation. • Let f(t) model the median home price in the U.S. in dollars for year t. • Let g(t) model the average non-manager compensation in the U.S. in dollars for year t. • Let h(t) model the RATIO of the median home price to the average non-manager compensation in the U.S. in terms of the year, t. That is, f(t) h(t) = g(t) median home price (in dollars) in U.S., f(t) average non-manager compensation (in dollars) in U.S., g(t) year, h(t) t 1965 167,700 39,500 4.25 1973 165,930 46,400 3.58 1978 172,600 47,200 3.66 1989 197,800 44,700 4.43 1995 181,500 45,600 Preview 2000 200,500 47,900 Preview 2010 215,000 52,700 Preview 2013 202,600 52,100 Preview
Calculus: Early Transcendentals
8th Edition
ISBN:9781285741550
Author:James Stewart
Publisher:James Stewart
Chapter1: Functions And Models
Section: Chapter Questions
Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...
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![**Compensation and Median Home Prices Over Time**
"Compensation" refers to the earnings an individual receives for their work, including salary and other forms of payment. In the U.S., the median home price represents the point where half of the homes are priced higher and half are priced lower.
The table below provides a comparison of the median home prices in the U.S. with the average non-managerial compensation for U.S. workers. Note that the values have been adjusted for inflation.
- Let \( f(t) \) represent the median home price in the U.S. in dollars for year \( t \).
- Let \( g(t) \) represent the average non-manager compensation in the U.S. in dollars for year \( t \).
- Let \( h(t) \) represent the ratio of the median home price to the average non-manager compensation in the U.S. for year \( t \). This is expressed as:
\[
h(t) = \frac{f(t)}{g(t)}
\]
| Year \( t \) | Median Home Price \( f(t) \) | Average Non-Manager Compensation \( g(t) \) | \( h(t) \) |
|-------------|-------------------------------|---------------------------------------------|-------------|
| 1965 | 167,700 | 39,500 | 4.25 |
| 1973 | 165,930 | 46,400 | 3.58 |
| 1978 | 172,600 | 47,200 | 3.66 |
| 1989 | 197,800 | 44,700 | 4.43 |
| 1995 | 181,500 | 45,600 | **(Preview)** |
| 2000 | 200,500 | 47,900 | **(Preview)** |
| 2010 | 215,000 | 52,700 | **(Preview)** |
| 2013 | 202,600 | 52,100 | **(Preview)** |
Please note: Data for some years include a "Preview" option instead of a specific ratio value, suggesting further input or calculation may be required.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F9bdd44c0-80af-4006-aeb1-064d54c4c394%2F6169266c-f482-4cba-a273-d6b2034aa6f2%2F3m5h89d_processed.jpeg&w=3840&q=75)
Transcribed Image Text:**Compensation and Median Home Prices Over Time**
"Compensation" refers to the earnings an individual receives for their work, including salary and other forms of payment. In the U.S., the median home price represents the point where half of the homes are priced higher and half are priced lower.
The table below provides a comparison of the median home prices in the U.S. with the average non-managerial compensation for U.S. workers. Note that the values have been adjusted for inflation.
- Let \( f(t) \) represent the median home price in the U.S. in dollars for year \( t \).
- Let \( g(t) \) represent the average non-manager compensation in the U.S. in dollars for year \( t \).
- Let \( h(t) \) represent the ratio of the median home price to the average non-manager compensation in the U.S. for year \( t \). This is expressed as:
\[
h(t) = \frac{f(t)}{g(t)}
\]
| Year \( t \) | Median Home Price \( f(t) \) | Average Non-Manager Compensation \( g(t) \) | \( h(t) \) |
|-------------|-------------------------------|---------------------------------------------|-------------|
| 1965 | 167,700 | 39,500 | 4.25 |
| 1973 | 165,930 | 46,400 | 3.58 |
| 1978 | 172,600 | 47,200 | 3.66 |
| 1989 | 197,800 | 44,700 | 4.43 |
| 1995 | 181,500 | 45,600 | **(Preview)** |
| 2000 | 200,500 | 47,900 | **(Preview)** |
| 2010 | 215,000 | 52,700 | **(Preview)** |
| 2013 | 202,600 | 52,100 | **(Preview)** |
Please note: Data for some years include a "Preview" option instead of a specific ratio value, suggesting further input or calculation may be required.
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