Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please show all working out including calculator procedures 8. (4 points each) The weekly earnings for 16-24 year-old men employed full time are given below:

Please show all working out including calculator procedures

image text in transcribed
8. (4 points each) The weekly earnings for 16-24 year-old men employed full time are given below: 2000 2002 2003 2004 2005 2006 2008 Years since 2000 0 2 3 4 5 6 8 Weekly earnings (dollars) 375 391 398 400 409 418 461 (a) Let E(x) denote the weekly earnings of 16-24 year-old men where a is the number of years since 2000. Use the table above to find a best fit model for E(x). Choose from EXPONENTIAL, LOGISTIC, or CUBIC. Give your model with all coefficients rounded to three decimal places. E ( x ) = 0. 3 3 8 263 - 3. 075 262 + 13. 2232+ 374. 86 (b) According to the full model, how rapidly is the weekly earnings changing in the year 2007? Use two decimal places and give units. Show work. E' ( 7 ) = 20. 7 4 $ per year (c) Using the full model for E(x), find the average value of the weekly earnings between 2007 and 2009. Use two decimal places and give units. Show work

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Linear Algebra With Applications

Authors: Gareth Williams

7th Edition

0763790923, 9780763790929

More Books

Students also viewed these Mathematics questions

Question

Explain the need for a new field of financial therapy.

Answered: 1 week ago

Question

2. How do I perform this role?

Answered: 1 week ago