SOLUTION: The table shows the minimum wage rates for the United States during different years. (a) Write the least squares regression equation that models the data. Let x = time in years si

Question 1141273: The table shows the minimum wage rates for the United States during different years.
(a) Write the least squares regression equation that models the data. Let x = time in years since 1900 and let y = minimum hourly wage. Round to the nearest thousandths place.
(b) Use the equation to estimate the minimum hourly wage of a U.S. worker in 2028. Show your work.
Answer:
Year
1978
1979
1980
1990
1991
1996
1997
2007
2008
2009
Minimum hourly wage ($)
2.65
2.80
3.55
3.85
4.25
4.75
5.25
5.85
6.65
7.45
Answer by Boreal(15235) (Show Source): You can put this solution on YOUR website!
calculator for linear regression
y=0.129x-7.314, x years after 1900.
For 2028, x=128
y=(0.129)*128-7.314
=16.512-7.314
=9.198 or $9.20
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