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Number of Years, X, since 2014 The minimum hourly wage in a particular country has grown over the years, as shown in the table. Minimum Hourly Wage 8.00 a) Find the regression line, y = mx + b b) Use the regression line to predict the minimum hourly wage in 2021. c) By 2024 the minimum hourly wage will be $17.00. Is the estimate of this future value provided by the regression line accurate? 9.00 9.50 11.00 5 12 50 a) y =*•O (Round to five decimal places as needed.)

Number of Years, X, since 2014 The minimum hourly wage in a particular country has grown over the years, as shown in the table. Minimum Hourly Wage 8.00 a) Find the regression line, y = mx + b b) Use the regression line to predict the minimum hourly wage in 2021. c) By 2024 the minimum hourly wage will be $17.00. Is the estimate of this future value provided by the regression line accurate? 9.00 9.50 11.00 5 12 50 a) y =*•O (Round to five decimal places as needed.)

College Algebra
College Algebra
10th Edition
ISBN:9781337282291
Author:Ron Larson
Publisher:Ron Larson
Chapter3: Polynomial Functions
Section: Chapter Questions
Problem 18T
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The minimum hourly wage in a particular country has grown over the years, as shown in the table. Number of Years, X, since 2014 Minimum Hourly Wage a) Find the regression line, y= mx + b. 8.00 b) Use the regression line to predict the minimum hourly wage in 2021. c) By 2024 the minimum hourly wage will be $17.00. Is the estimate of this future value provided by the regression line accurate? 9.00 3 9.50 4 11.00 12.50 a) y =x+O (Round to five decimal places as needed.)
Transcribed Image Text:The minimum hourly wage in a particular country has grown over the years, as shown in the table. Number of Years, X, since 2014 Minimum Hourly Wage a) Find the regression line, y= mx + b. 8.00 b) Use the regression line to predict the minimum hourly wage in 2021. c) By 2024 the minimum hourly wage will be $17.00. Is the estimate of this future value provided by the regression line accurate? 9.00 3 9.50 4 11.00 12.50 a) y =x+O (Round to five decimal places as needed.)
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