BUSINESS: MBA Salaries Starting salaries in the United States for new recipients of MBA (master of business administration) degrees have been rising approximately linearly, from $78,040 in 2005 to $89,200 in 2010.
a. Use the two (year, salary) data points (0, 78.0) and (5, 89.2) to fi nd the linear relationship y = mx + b between x = years since 2005 and y = salary in thousands of dollars.
b. Use your formula to predict a new MBA’s salary in 2020. [Hint: Since x is years after 2005, what x-value corresponds to 2020?]
Source: Graduate Management Admissions Council
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