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1. The table shows the minimum wage rates for the United States during different years.

Year 1978 1979 1980 1990 1991 1996 1997 2007 2008 2009
Minimum hourly wage ($) 2.65 2.90 3.35 3.80 4.25 4.75 5.15 5.85 6.55 7.25

(a) Write the least squares regression equation that models the data. Let x = time in years since 1900 and let y = minimum hourly wage.
(b) Use the equation to estimate the minimum hourly wage of a U.S. worker in 2025. Show your work.

Sagot :

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