Question: The table gives the average annual wage, in thousands of dollars, for selected years from 2012 and projected to 2050. (a) Find an exponential function

The table gives the average annual wage, in thousands of dollars, for selected years from 2012 and projected to 2050.
(a) Find an exponential function that models the data, with x equal to the number of years after 2010 and y equal to the average annual wage in thousands of dollars. Report the model with three significant digits.
(b) Use the reported model to find a function that gives the instantaneous rate of change of the average annual wage. Report this function with three significant digits.
(c) Use the result in part (b) to predict the rate of growth of the average annual wage in 2040.

Annual Wage ($ thousands) Annual Wage ($ thousands) Year Year 2012 44.6 2030 93.2 2035 113.2 2014 48.6 2016 53.3 2040 137.6 58.7 2018 2045 167.1 2020 63.7 2050 202.5 2025 76.8

Step by Step Solution

★★★★★

3.46 Rating (175 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

a y 421104 x b y 421104 x ln 104 y 165104 ... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Document Format (1 attachment)

1386-M-C-L-A-D(4237).docx

120 KBs Word File

Students Have Also Explored These Related Calculus Questions!

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...

The following table gives the average weekly retail price of a gallon of regular gasoline in the eastern United States over a 9-week period from December 19, 2011, through February 13, 2012. Consider...

The following table shows the U.S. average annual wage in thousands of dollars for selected years from 2012 and projected to 2050. (a) Find an exponential function that models these data. Use x equal...

The following table shows the U.S. average annual wage in thousands of dollars for selected years from 2012 and projected to 2050. Suppose the rate of change of the U.S. average annual wage can be...

1) NEED HELP The accompanying table shows the average annual wage for a country, in thousands of dollars, for selected years from 1990 and projected to 2060. a. Find an exponential function that...

The accompanying table shows the average annual wage for a country, in thousands of dollars, for selected years from 1970 and projected to 2040. a. Find an exponential function that models these...

By using Social Security Administration data for selected years from 2012 and projected to 2050, the U.S. average annual wage, in thousands of dollars, can be modeled by W(t) = 0.0212t2.11 where t is...

Question #1 The table gives the average annual U.S. wage from 2011 and projected through 2021. Year Wage ($) Year Wage ($) 2011 43,009 2017 55,989 2012 44,644 2018 58,698 2013 46,496 2019 61,179 2014...

5. [-/6.66 Points] DETAILS HARMATHAP12 14.R.035. The table gives the average annual U.S. wage from 2011 and projected through 2021. + Year Wage ($) Year Wage ($) 2011 43,009 2017 55,989 2012 44,644...

What are the total return, the current yield, and the capital gains yield for the discount bond? (Assume the bond is held to maturity and the company does not default on the bond.)

Given a scalar function 6(x, y, z) directional derivative is given as do = grado . where R is the position vector. Based on this definition: The temperature at each (r, y, z) point in space is given...

Describe the four-step process of figuring out your monthly budget. Choose the correct answer below. A. First, list all monthly income. Next, list all monthly credit card debt. Then subtract total...

8. The government is considering a policy to reduce air pollution by restricting the use of dirty fuels by factories. In deciding whether to implement the policy, how, if at all, should the likely...

At what point of the curve y = cosh x does the tangent have slope 1?

If x = in (sec + tan ), show that sec = cosh x.

Show that if a 0 and b 0, then there exit numbers a and such that aex + be x equals either a sinh(x + ) or a cosh (x + ). In other words, almost every function of the form f(x) aex + be x is a...

Maggie's Gold Coins, Inc. is considering shortening its credit period from 30 days to 20 days and believes, as a result of this change, its average collection period will decrease from 36 days to 30...

3. Suppose you receive $50,000 at the end of each year for the next three years If the interest rate is 8%, what is the present value of these cash flows? Show all your calculations Part III Money...

Una persona compra un juegodemuebles,cuyovalor de contado es de $2.000.000 si le danla facilidadparapagarloen4cuotasmensualesigualescadaunapagaderasal final de cada mes, a...