An economist is studying the median yearly income of workers by their ages. Age (yr) 18 28 38 48 58 68 Median Income ($) 17,480 30,650 37,440 41,230 37,570 21,390 a.       What function best models the data (linear, quadratic, exponential)?  b.       Write a function that models the data.  c.       Use your model to predit the median income for a worker who is 43 years old. Round to the nearest dollar.

Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter3: The Derivative
Section3.4: Definition Of The Derivative
Problem 50E
icon
Related questions
Question

An economist is studying the median yearly income of workers by their ages.

Age (yr) 18 28 38 48 58 68
Median Income ($) 17,480 30,650 37,440 41,230 37,570 21,390


a.       What function best models the data (linear, quadratic, exponential)? 
b.       Write a function that models the data. 
c.       Use your model to predit the median income for a worker who is 43 years old. Round to the nearest dollar. 

 

Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 4 steps with 1 images

Blurred answer
Recommended textbooks for you
Calculus For The Life Sciences
Calculus For The Life Sciences
Calculus
ISBN:
9780321964038
Author:
GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:
Pearson Addison Wesley,
Functions and Change: A Modeling Approach to Coll…
Functions and Change: A Modeling Approach to Coll…
Algebra
ISBN:
9781337111348
Author:
Bruce Crauder, Benny Evans, Alan Noell
Publisher:
Cengage Learning
Glencoe Algebra 1, Student Edition, 9780079039897…
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
Algebra & Trigonometry with Analytic Geometry
Algebra & Trigonometry with Analytic Geometry
Algebra
ISBN:
9781133382119
Author:
Swokowski
Publisher:
Cengage
College Algebra
College Algebra
Algebra
ISBN:
9781938168383
Author:
Jay Abramson
Publisher:
OpenStax