Concept explainers
All of the following exercises can be done with a graphing calculator if your instructor so directs. The calculator can also be used to check your work.
Labor force. The minimum hourly wage in the United States has grown over the years, as shown in the table below.
Number of years, x, since 1997 | Minimum Hourly Wage (dollars) |
0 | $5.15 |
10 | 5.85 |
11 | 6.55 |
12 | 7.25 |
18 | 10.10 |
(source: U.S. Dept. of Labor.)
a. For the data in the table, find the regression line,
b. Use the regression line to predict the minimum hourly wage in 2020 and 2025.
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