Average Annual Year Wage ($ thousands) Year Wage ($ thousands) Average Annual 2014 48.6 2030 93.2 2016 53.3 2035 113.2 2018 58.7 2040 137.6 2020 63.7 2045 167.1 2025 76.8 2050 202.5
Average Annual Year Wage ($ thousands) Year Wage ($ thousands) Average Annual 2014 48.6 2030 93.2 2016 53.3 2035 113.2 2018 58.7 2040 137.6 2020 63.7 2045 167.1 2025 76.8 2050 202.5
Intermediate Algebra
10th Edition
ISBN:9781285195728
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter11: Exponential And Logarithmic Functions
Section11.S: Summary
Problem 13S
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Question
Average Annual Wage The following table shows the
U.S. average annual wage in thousands of dollars for
selected years from 2014 and projected to 2050.
a. Find a power function that models this data, with x
equal to the number of years after 2000 and y equal
to the average annual wage in thousands of dollars.
Report the model with four significant digits.
b. What does the model predict that the average
annual wage will be in 2043?
c. Use technology to find when the model predicts that
the average annual wage will be $159.6 thousand.
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