Question: Assuming that the average persons wage increases linearly with each year of experience in a job, the following linear trend equation has been estimated using

Assuming that the average persons wage increases linearly with each year of experience in a job, the following linear trend equation has been estimated using a set of data from the year 2010 to the year 2017 to present the wage growth over this period of time.

Y = 69,000 + 1,450 X

Where Y = average wages

X = years of experience

Forecast the average wage in 2019 and enter the value in the box below

(Hint: Use year 2010= 1, 2011= 2, 2012=3...)

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