SOLUTION: Hi, I have to solve this problem that says " In 1980, the federal hourly minimum wage was $3.10. Today it is $5.15 in 2005. Assuming a linear growth model, find formula, y=mx+B, to

Question 535273: Hi, I have to solve this problem that says " In 1980, the federal hourly minimum wage was $3.10. Today it is $5.15 in 2005. Assuming a linear growth model, find formula, y=mx+B, to model the minimum wage and years after 1980" I was just wondering if you could give me a hint on how to plug in this equation

Answer by scott8148(6628) (Show Source): You can put this solution on YOUR website!
y is the wage ___ x is the years after 1980

the wage changed $2.05 in 25 yrs, so the slope (m) is 2.05/25

the y-intercept (b) is the wage zero years after 1980 -- 3.10

guess this is a real good hint...
RELATED QUESTIONS
Write an equation and solve. From the years 1980 to 2005 the minimum hourly wage... (answered by Nate)

In 1991, the federal minimum wage rate was $4.25 per hour. in 1997, it was increased to... (answered by Mathtut)

In 2003, the federal minimum wage rate was $5.75 per hour. In 2007, It increased to... (answered by Mathtut)

I have a story problem and I was wondering if anyone could help me out. An employee... (answered by bucky)

A worker times 1 1/2 times the regular wage for overtime. In one week the workers total... (answered by rfer,MathTherapy)

The table shows the minimum wage rates for the United States during different years. (a) (answered by Boreal)

Hi there, I had tried to solve this word problems...can't figure it out!! Everytime, I... (answered by solver91311)

Hi there, I had tried to solve this word problems...can't figure it out!! Everytime, I... (answered by mananth)

Can someone answer this?... I. The table below gives the number of male and female... (answered by stanbon)