Calculate numerical results with the unrounded models, unless otherwise instructed. Report models to 3 decimal places unless otherwise stated.
Income The median annual income of males in the United States for selected years between 1960 and 2009 is shown in the table below.
Year | Median Annual Income ($) | Year | Median Annual Income ($) |
1960 | 4080 | 2003 | 29,931 |
1970 | 6670 | 2004 | 30,513 |
1980 | 12,530 | 2005 | 31,275 |
1990 | 20,293 | 2007 | 33,196 |
2000 | 28,343 | 2008 | 33,161 |
2001 | 29,101 | 2009 | 32,184 |
2002 | 29,238 |
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a. Find the quadratic function that models the median income as a function of x, the number of years after 1960.
b. Use the model from part (a) to estimate the median annual income of males in 1997 and in 2014.
c. Do you feel that the estimate for 2014 is reliable? Explain.
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