U.S. minimum hourly wage, in dollars, for selected years from 19562009 is shown in the table. The
Question:
U.S. minimum hourly wage, in dollars, for selected years from 1956–2009 is shown in the table. The linear model
y = 0.1132x + 0.4609
approximates the minimum wage during this time period, where x is the number of years after 1956 and y is the minimum wage in dollars.
(a) Use the model to approximate the minimum wage in 1990. How does it compare to the data in the table?
(b) Use the model to approximate the year in which the minimum wage was $5.85. How does the answer compare to the data in the table?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
a Using 1956 for x 0 then for 1990 x 34 According to the model the minim...View the full answer
Answered By
Asim farooq
I have done MS finance and expertise in the field of Accounting, finance, cost accounting, security analysis and portfolio management and management, MS office is at my fingertips, I want my client to take advantage of my practical knowledge. I have been mentoring my client on a freelancer website from last two years, Currently I am working in Telecom company as a financial analyst and before that working as an accountant with Pepsi for one year. I also join a nonprofit organization as a finance assistant to my job duties are making payment to client after tax calculation, I have started my professional career from teaching I was teaching to a master's level student for two years in the evening.
My Expert Service
Financial accounting, Financial management, Cost accounting, Human resource management, Business communication and report writing. Financial accounting : • Journal entries • Financial statements including balance sheet, Profit & Loss account, Cash flow statement • Adjustment entries • Ratio analysis • Accounting concepts • Single entry accounting • Double entry accounting • Bills of exchange • Bank reconciliation statements Cost accounting : • Budgeting • Job order costing • Process costing • Cost of goods sold Financial management : • Capital budgeting • Net Present Value (NPV) • Internal Rate of Return (IRR) • Payback period • Discounted cash flows • Financial analysis • Capital assets pricing model • Simple interest, Compound interest & annuities
65+ Reviews
86+ Question Solved
Related Book For 
College Algebra
ISBN: 978-0134697024
12th edition
Authors: Margaret L. Lial, John Hornsby, David I. Schneider, Callie Daniels
Question Posted:
