The table gives the average annual U.S. wage from 2011 and projected through 2021. (a) Use linear
Question:
The table gives the average annual U.S. wage from 2011 and projected through 2021.
(a) Use linear regression to find the best linear model for the wage as a function of the number of years after 2010. Report the model with four significant digits.
(b) Use the reported model to predict the average annual wage in 2025.
Transcribed Image Text:
Year Wage ($) Year Wage ($) 2017 2011 43,009 55,989 58,698 2012 44,644 46,496 2018 2013 2019 61,179 2020 2014 48,595 50,893 63,676 66,161 2015 2021 2016 53,317
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Related Book For
Mathematical Applications for the Management Life and Social Sciences
ISBN: 978-1305108042
11th edition
Authors: Ronald J. Harshbarger, James J. Reynolds
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