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The y-intercept is (0, 38,000).
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The y-intercept means that if Adam has zero total sales (x = 0), his annual salary (y) would be $38,000. This represents Adam's base salary, which he earns irrespective of his sales performance.
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The slope is 0.28.
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The slope means that for every dollar increase in total sales (x), Adam's annual salary (y) increases by $0.28. This indicates the increase in salary per dollar of total sales.
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To find Adam's total sales when he made $45,000 total annual salary, we can set up the equation:
\[ 45,000 = 0.28x + 38,000 \]
Now, we solve for x:
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Subtract 38,000 from both sides: \[ 45,000 - 38,000 = 0.28x \] \[ 7,000 = 0.28x \]
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Divide both sides by 0.28: \[ x = \frac{7,000}{0.28} \] \[ x ≈ 25,000 \]
So, Adam's total sales were approximately $25,000.