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

Algebra ->  Coordinate Systems and Linear Equations  -> Linear Equations and Systems Word Problems -> 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      Log On


   

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) About Me  (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...