Chapter 4, Problem 82RE

### Calculus: An Applied Approach (Min...

10th Edition
Ron Larson
ISBN: 9781305860919

Chapter
Section

### Calculus: An Applied Approach (Min...

10th Edition
Ron Larson
ISBN: 9781305860919
Textbook Problem
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# Hourly Earnings The average hourly wages w (in dollars) for private industry employees in the United States from 2006 through 2014 can be modeled by w   =   17.95 e 0.0225 t where t = 6 corresponds to 2006. (Source: U.S. Bureau of Labor Statistics)(a) What was the average hourly wage in 2013?(b) In what year will the average hourly wage be $30? (a) To determine To calculate: The average hourly wages in 2013 when the average hourly wages for the period 20062014 is w=17.95e0.0225t. Explanation Given Information: For the private industry employees in the U.S., the average hourly wages w in the period 20062014 is, w=17.95e0.0225t Where, the year 2006 corresponds to t=6. Calculation: Consider the average hourly wages, w=17.95e0 (b) To determine To calculate: The year at which the average hourly wage would be$30 if the average hourly wages w in the period 20062014 is w=17.95e0.0225t.

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