Answer to Question #140669 in Statistics and Probability for Ria

Question

Think of two new situations where the slope is an important measurement. Describe how the slope is important to the situation and how it would be used in solving a problem or making a decision. 

Answer 1

1. Increase of a salary with the years of experience. If we know that every year salary will increase for a certain value, this value will be a slope in dependence "salary = k*years + salary0". This parameter is very important when a person is searching for job. Given approximately the same salary at the beginning, professional growth (also expressed in salary increase with experience) is that parameter that should be taken into account while making decision.
2. We know that a car needs n litres of petrol to cross 100 km. Then the price of driving to some place will be "price = n * petrol price * distance". n is a slope, it shows how much will the price increase if the distance will be longer. This is an important parameter for a car that influence our choice during the purchase of it.