Determine what type of model best fits the given situation: A $500 raise in salary each year.

A linear model

Explanation:

The type of model that best fits the situation of a $500 raise in a salary each year is a linear model.

In a linear model, the dependent variable changes a constant amount for constant increments of the independent variable.

In the given case, the dependent variable is the salary and the independent variable is the year.

You may build a table to show that for increments of 1 year the increments of the salary is $500:

Year Salary Change in year Change in salary

2010 A - -

2011 A + 500 2011 - 2010 = 1 A + 500 - 500 = 500

2012 A + 1,000 2012 - 2011 = 1 A + 1,000 - (A + 500) = 500

So, you can see that every year the salary increases the same amount ($500).

In general, a linear model is represented by the general equation y = mx + b, where x is the change of y per unit change of x, and b is the initial value (y-intercept).

In this case m = $500 and b is the starting salary: y = 500x + b.