The following graph shows the highest average annual value of contract

Question

The following graph shows the highest average annual value of contracts for players in Major League Baseball in the years from 1980 to 2001. The solid curve represents a regression equation that is exponential. The dotted line represents the salaries that would be predicted by a linear model.

Attachment:

12.jpg [ 190.42 KiB | Viewed 4550 times ]

1. The rate of growth in the salaries began to increase sharply in approximately .

2. The linear model most successfully predicts the salary for .

Question #2 based on the same graph is available here

Data Insights (DI) Butler 2023-24 [Question #44, Date: Oct-16-2023] [Click here for Details]

Submit Answer

Start the Timer above, select the dropdowns, and click "Submit" to add this question to your Error log.

Show Answer

Official Answer

Dropdown 1: 1995

Dropdown 2: Mike Schmidt

tabishkazi · Answer

i have used eyeballing for 1 question? is there any matchamatical approach to it?

ishahere · Answer

How is the answer 1995...please post the solution to this question

Sajjad1994 · Answer

Official Explanation

1. The rate of growth in the salaries began to increase sharply in approximately __________.

Look for the bend in the exponential curve. The salaries increase much more quickly after that bend than before. That shift occurs around 1995.

Answer: D

2. The linear model most successfully predicts the salary for __________.

Pay attention to the dotted line, not the exponential curve. Look at the vertical distance from the line to the actual point. Of the players proposed, Mike Schmidt's point lies closest to the dotted line.

Answer: D

Kusumita · Answer

Hi,
 I see the bend in the curve from 1994-1995 same as 1995 -1996.
Not still able to understand why the first answer is 1995. In that case the answer should be 1994, isn't it?

SKJapan · Answer

Mike's only one salary intersects with line. Others are way off. Cecil Fielder's both salaries are pretty close to the line.  Sajjad1994

Ry2QfJZks1GxScM8 · Answer

IMO the reason why its 1995 NOT 2000 because in 2000 the years prior the salaries were already increasing pretty heavily

Ry2QfJZks1GxScM8 · Answer

The line you need to look for the the dotted LINEAR line which intersects with Mike meaning its the most accurate

bumpbot · Answer

Hello from the GMAT Club BumpBot!

Thanks to another GMAT Club member, I have just discovered this valuable topic, yet it had no discussion for over a year. I am now bumping it up - doing my job. I think you may find it valuable (esp those replies with Kudos).

Want to see all other topics I dig out? Follow me (click follow button on profile). You will receive a summary of all topics I bump in your profile area as well as via email.

The following graph shows the highest average annual value of contract

Prep Toolkit

Top 5 GMAT Debrief Videos

615 to 715 in 15 Days (Ria's Strategies)

More than Quant/Verbal Abilities: Speed vs. Accuracy

745 with Only Self-Prep and GMAT Club

From 555 to 765: 210-point Improvement

Perfect 805 Score Debrief by Julia

My Rewards