In Question, use linear regression to find the requested linear model.
The table shows the average hourly earnings of production workers in manufacturing.*
Year | Hourly Earnings |
2000 | $14.00 |
2001 | $14.53 |
2002 | $14.95 |
2003 | $15.35 |
2004 | $15.67 |
2005 | $16.11 |
(a) Find a linear model for the data, with x = 0 corresponding to 2000.
(b) Use the model to estimate the average hourly earnings in 2001 and 2004. How do the estimates of the model compare with the actual figures?
(c) Estimate the average hourly earnings in 2008.
*U.S. Bureau of Labor Statistics.
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