Math Problem Statement
Question content area top Part 1 The table below shows the median weekly earnings of a certain population of workers. If this trend continues, predict the median weekly earnings in 201515. For this exercise, find a linear and a quadratic regression equation and use both to predict the earnings in 201515. Let x be the number of years since the year 2000 and y be the weekly earnings in dollars. Year 2002 2004 2006 2008 2010
Weekly Earnings (in dollars) 566 582 619 628 621
Solution
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Math Problem Analysis
Mathematical Concepts
Linear Regression
Quadratic Regression
Extrapolation
Algebra
Formulas
Linear equation: y = mx + b
Quadratic equation: y = ax^2 + bx + c
Theorems
Least Squares Method
Properties of Linear and Quadratic Models
Suitable Grade Level
Grades 10-12
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