10th Edition

ISBN: 8220102020252

Author: RITCHEY

Publisher: PEARSON

Concept explainers

The method used for finding the corresponding z-critical value in a normal distribution using the known probability is said to be an inverse normal distribution. The inverse normal distribution is a continuous probability distribution with a family of tw…

Mean, Median, Mode

It is a descriptive summary of a data set. It can be defined by using some of the measures. The central tendencies do not provide information regarding individual data from the dataset. However, they give a summary of the data set. The central tendency o…

Z-Scores

A z-score is a unit of measurement used in statistics to describe the position of a raw score in terms of its distance from the mean, measured with reference to standard deviation from the mean. Z-scores are useful in statistics because they allow compar…

Videos

Textbook Question

Chapter 1.3, Problem 15E

Mean Earnings The mean earnings (in dollars) of workers 18 years and over, by educational attainment, have increased steadily over the years and are given in the following table. Let x equal the number of years since 1900. Source: U.S. Census.

Year	High School Graduate	Bachelor’s Degree
1976	8393	13,033
1978	9834	15,291
1980	11,314	18,075
1982	12,560	20,272
1984	13,893	23,072
1986	15,120	26,511
1988	16,750	28.344
1990	17,820	31,112
1992	18,737	32,629
1994	20,248	37,224
1996	22,154	38,112
1998	23,594	43,782
2000	25,692	49,595
2002	27,280	51,194
2004	28,631	51,568
2006	31,071	56,788
2008	31,283	58,613
2010	31,003	57,621
2012	32,630	60,159

(a) Plot the data for high school graduates and for workers with a bachelor’s degree. Do the data points lie in a linear pattern?
(b) Find an equation for the least squares line for the mean earnings of high school graduates. Calculate and interpret the correlation coefficient.
(c) Based on your answer from part (b), at approximately what rate are the mean earnings of high school graduates growing per year?
(d) Find an equation for the least squares line for the mean earnings of workers with a bachelor’s degree. Calculate and interpret the correlation coefficient.
(e) Based on your answer from part (d), at approximately what rate are the mean earnings of workers with a bachelor’s degree growing per year?
(f) If these trends continue linearly, in what year will the mean earnings for high school graduates exceed $75,000? In what year will workers with a bachelor’s degree exceed $75,000?

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Chapter 1.3, Problem 14E

Chapter 1.3, Problem 16E

Chapter 1 Solutions

EBK FINITE MATHEMATICS AND CALCULUS WIT

Ch. 1.1 - Find the slope of the line through (1, 5) and (4,...Ch. 1.1 - Find the equation of the line with x-intercept 4...Ch. 1.1 - Prob. 3YT Ch. 1.1 - Find the equation of the line through (2, 9) and...Ch. 1.1 - Prob. 5YT Ch. 1.1 - Prob. 6YT Ch. 1.1 - Prob. 1WE Ch. 1.1 - Prob. 2WE Ch. 1.1 - Prob. 3WE Ch. 1.1 - Prob. 4WE

Ch. 1.1 - Prob. 1E Ch. 1.1 - Prob. 2E Ch. 1.1 - Prob. 3E Ch. 1.1 - Prob. 4E Ch. 1.1 - Prob. 5E Ch. 1.1 - Prob. 6E Ch. 1.1 - Prob. 7E Ch. 1.1 - Prob. 8E Ch. 1.1 - Prob. 9E Ch. 1.1 - Prob. 10E Ch. 1.1 - Prob. 11E Ch. 1.1 - Prob. 12E Ch. 1.1 - Prob. 13E Ch. 1.1 - Prob. 14E Ch. 1.1 - In Exercises 1524, find an equation in...Ch. 1.1 - Prob. 16E Ch. 1.1 - In Exercises 1524, find an equation in...Ch. 1.1 - Prob. 18E Ch. 1.1 - In Exercises 1524, find an equation in...Ch. 1.1 - Prob. 20E Ch. 1.1 - In Exercises 1524, find an equation in...Ch. 1.1 - Prob. 22E Ch. 1.1 - In Exercises 1524, find an equation in...Ch. 1.1 - Prob. 24E Ch. 1.1 - Prob. 25E Ch. 1.1 - Prob. 26E Ch. 1.1 - Prob. 27E Ch. 1.1 - In Exercises 2534, find an equation for each line...Ch. 1.1 - Prob. 29E Ch. 1.1 - Prob. 30E Ch. 1.1 - Prob. 31E Ch. 1.1 - Prob. 32E Ch. 1.1 - Prob. 33E Ch. 1.1 - Prob. 34E Ch. 1.1 - Prob. 35E Ch. 1.1 - Prob. 36E Ch. 1.1 - Prob. 37E Ch. 1.1 - Prob. 38E Ch. 1.1 - Prob. 39E Ch. 1.1 - Prob. 40E Ch. 1.1 - Prob. 41E Ch. 1.1 - Prob. 42E Ch. 1.1 - Prob. 43E Ch. 1.1 - Prob. 44E Ch. 1.1 - Prob. 45E Ch. 1.1 - Prob. 46E Ch. 1.1 - Prob. 47E Ch. 1.1 - Graph each equation. 48. y = 6x + 12 Ch. 1.1 - Prob. 49E Ch. 1.1 - Prob. 50E Ch. 1.1 - Prob. 51E Ch. 1.1 - Prob. 52E Ch. 1.1 - Prob. 53E Ch. 1.1 - Prob. 54E Ch. 1.1 - Prob. 55E Ch. 1.1 - Prob. 56E Ch. 1.1 - Prob. 57E Ch. 1.1 - Graph each equation. 58. y = 5x Ch. 1.1 - Graph each equation. 59. x + 4y = 0 Ch. 1.1 - Prob. 60E Ch. 1.1 - Prob. 61E Ch. 1.1 - Prob. 62E Ch. 1.1 - Prob. 63E Ch. 1.1 - Prob. 64E Ch. 1.1 - Prob. 65E Ch. 1.1 - Life Sciences 66. HIV Infection The time interval...Ch. 1.1 - Prob. 67E Ch. 1.1 - Prob. 68E Ch. 1.1 - Prob. 69E Ch. 1.1 - Prob. 70E Ch. 1.1 - Prob. 71E Ch. 1.1 - Prob. 72E Ch. 1.1 - Prob. 73E Ch. 1.1 - Prob. 74E Ch. 1.1 - Prob. 75E Ch. 1.2 - Calculate g(5). Let g(x) = 4x + 5.Ch. 1.2 - Prob. 2YT Ch. 1.2 - Prob. 3YT Ch. 1.2 - Prob. 4YT Ch. 1.2 - Prob. 5YT Ch. 1.2 - Prob. 6YT Ch. 1.2 - Prob. 1WE Ch. 1.2 - Prob. 2WE Ch. 1.2 - Prob. 1E Ch. 1.2 - Prob. 2E Ch. 1.2 - Prob. 3E Ch. 1.2 - Prob. 4E Ch. 1.2 - Prob. 5E Ch. 1.2 - Prob. 6E Ch. 1.2 - Prob. 7E Ch. 1.2 - Prob. 8E Ch. 1.2 - Prob. 9E Ch. 1.2 - Prob. 10E Ch. 1.2 - Prob. 11E Ch. 1.2 - In Exercises 1114, decide whether the statement is...Ch. 1.2 - Prob. 13E Ch. 1.2 - Prob. 14E Ch. 1.2 - Prob. 15E Ch. 1.2 - Prob. 16E Ch. 1.2 - Prob. 17E Ch. 1.2 - Prob. 18E Ch. 1.2 - Write a linear cost function for each situation....Ch. 1.2 - Prob. 20E Ch. 1.2 - Write a linear cost function for each situation....Ch. 1.2 - Prob. 22E Ch. 1.2 - Assume that each situation can be expressed as a...Ch. 1.2 - Prob. 24E Ch. 1.2 - Assume that each situation can be expressed as a...Ch. 1.2 - Prob. 26E Ch. 1.2 - Business and Economics 27. Supply and Demand...Ch. 1.2 - Supply and Demand Suppose that the demand and...Ch. 1.2 - Supply and Demand Let the supply and demand...Ch. 1.2 - Supply and Demand Let the supply and demand...Ch. 1.2 - Supply and Demand Suppose that the supply function...Ch. 1.2 - Prob. 32E Ch. 1.2 - Break-Even Analysis Producing x units of tacos...Ch. 1.2 - Prob. 34E Ch. 1.2 - T-Shirt Cost Joanne Wendelken sells silk-screened...Ch. 1.2 - Prob. 36E Ch. 1.2 - Marginal Cost of Coffee The manager of a...Ch. 1.2 - Marginal Cost of a New Plant In deciding whether...Ch. 1.2 - Break-Even Analysis You are the manager of a firm....Ch. 1.2 - Prob. 40E Ch. 1.2 - Break-Even Analysis You are the manager of a firm....Ch. 1.2 - Prob. 42E Ch. 1.2 - Prob. 43E Ch. 1.2 - Prob. 44E Ch. 1.2 - Life Sciences 45. Deer Ticks Deer ticks are of...Ch. 1.2 - Prob. 46E Ch. 1.2 - Prob. 47E Ch. 1.2 - Prob. 48E Ch. 1.2 - Prob. 49E Ch. 1.2 - Prob. 50E Ch. 1.3 - Calculate the least squares line for the following...Ch. 1.3 - Prob. 2YT Ch. 1.3 - Prob. 1E Ch. 1.3 - Prob. 2E Ch. 1.3 - Prob. 3E Ch. 1.3 - Prob. 4E Ch. 1.3 - Prob. 5E Ch. 1.3 - Prob. 6E Ch. 1.3 - Prob. 7E Ch. 1.3 - Prob. 8E Ch. 1.3 - Prob. 9E Ch. 1.3 - Prob. 10E Ch. 1.3 - Prob. 11E Ch. 1.3 - Prob. 12E Ch. 1.3 - Prob. 13E Ch. 1.3 - Prob. 14E Ch. 1.3 - Mean Earnings The mean earnings (in dollars) of...Ch. 1.3 - Air Fares Using Expedia, a discount travel...Ch. 1.3 - Prob. 17E Ch. 1.3 - Size of Hunting Parties In the 1960s, the famous...Ch. 1.3 - Crickets Chirping Biologists have observed a...Ch. 1.3 - Prob. 20E Ch. 1.3 - Prob. 21E Ch. 1.3 - Prob. 22E Ch. 1.3 - SAT Scores At Hofstra University, all students...Ch. 1.3 - Prob. 24E Ch. 1.3 - Air Conditioning While shopping for an air...Ch. 1.3 - Prob. 26E Ch. 1.3 - Running If you think a marathon is a long race,...Ch. 1 - Determine whether each statement is true or false,...Ch. 1 - Prob. 2RE Ch. 1 - Prob. 3RE Ch. 1 - Prob. 4RE Ch. 1 - Prob. 5RE Ch. 1 - Prob. 6RE Ch. 1 - Prob. 7RE Ch. 1 - Prob. 8RE Ch. 1 - Prob. 9RE Ch. 1 - Prob. 10RE Ch. 1 - Determine whether each statement is true or false,...Ch. 1 - Prob. 12RE Ch. 1 - Prob. 13RE Ch. 1 - Prob. 14RE Ch. 1 - Prob. 15RE Ch. 1 - Prob. 16RE Ch. 1 - Prob. 17RE Ch. 1 - Prob. 18RE Ch. 1 - Prob. 19RE Ch. 1 - Prob. 20RE Ch. 1 - Prob. 21RE Ch. 1 - Prob. 22RE Ch. 1 - Prob. 23RE Ch. 1 - Prob. 24RE Ch. 1 - Prob. 25RE Ch. 1 - Prob. 26RE Ch. 1 - Prob. 27RE Ch. 1 - Prob. 28RE Ch. 1 - Prob. 29RE Ch. 1 - Prob. 30RE Ch. 1 - Prob. 31RE Ch. 1 - Prob. 32RE Ch. 1 - Prob. 33RE Ch. 1 - Prob. 34RE Ch. 1 - Prob. 35RE Ch. 1 - Prob. 36RE Ch. 1 - Prob. 37RE Ch. 1 - Prob. 38RE Ch. 1 - Prob. 39RE Ch. 1 - Prob. 40RE Ch. 1 - Prob. 41RE Ch. 1 - Prob. 42RE Ch. 1 - Prob. 43RE Ch. 1 - Prob. 44RE Ch. 1 - Prob. 45RE Ch. 1 - Prob. 46RE Ch. 1 - Prob. 47RE Ch. 1 - Prob. 48RE Ch. 1 - Prob. 49RE Ch. 1 - Prob. 50RE Ch. 1 - Prob. 51RE Ch. 1 - Prob. 52RE Ch. 1 - Prob. 53RE Ch. 1 - Prob. 54RE Ch. 1 - Prob. 55RE Ch. 1 - Prob. 56RE Ch. 1 - Prob. 57RE Ch. 1 - Prob. 58RE Ch. 1 - Prob. 59RE Ch. 1 - Life Sciences 60. World Health In general, people...Ch. 1 - Prob. 61RE Ch. 1 - Prob. 62RE Ch. 1 - Prob. 63RE Ch. 1 - Movies A mathematician exploring the relationship...

Knowledge Booster

$Calculus$

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, calculus and related others by exploring similar questions and additional content below.

Solution Summary: The author illustrates how to sketch the data for high school graduates and for workers with a bachelor's degree and check whether they are linear or not.

Concept explainers

Videos

Want to see the full answer?

Chapter 1 Solutions