In recent decades, the median income for all U.S. households has increased in a roughly linear manner. In 1990, the median income was $29,943. By 2018, it had risen to $63,179. Source: U.S. Census Bureau.
(a) Determine a linear equation that approximates the median income in terms of t, the number of years since 1900.
(b) Describe the rate at which the median income for all U.S. households is changing.
(c) Based on the answer to part (a), what is the predicted median income in 2025?
(d) If this trend were to continue, in what year would the median income rise above $80,000?