Linear Equations · Exercise 18
Piece-rate systems are widely debated incentive payment plans. In a recent study of loan officer effectiveness, the following piece-rate system was examined:
\begin{array}{|c|c|c|c|c|}\hline \text{% of goal reached} & \text{< 80} & \text{80} & \text{100} & \text{120} \\ \hline \text{Incentive} & \text{n/a} & \text{}4,000, with an additional \\text{125 added per percentage point from 81% to 99%} & \text{}6,500, with an additional \\text{125 added per percentage point from 101% to 119%} & \text{}9,500, with an additional \\text{125 added per percentage point starting at 121%} \\ \hline\end{array}
If a loan officer makes 95 percent of his or her goal, write the linear function that applies based on the incentive plan table. In context, explain the y-intercept and slope.
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OpenStax, Statistics · §12.1 Linear Equations · Exercise 18
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