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The accompanying table shows the average annual wage for a country, in thousands of dollars, for selected years from 1970 and projected to 2040. a.
The accompanying table shows the average annual wage for a country, in thousands of dollars, for selected years from 1970 and projected to 2040. a. Find an exponential function that models these data, with x equal to the number of years after 1970 and y equal to the average annual wage in thousands of dollars. b. Graph the model and the data on the same axes. c. What does the model predict that the average annual wage will be in 2030 ? Is this interpolation or extrapolation? d. When does the model predict that the average annual wage will reach $230,000 ? Click on the icon to view the data table. a. The equation of an exponential function that models the data is y= (Use integers or decimals for any numbers i the expression. Round to three decimal places as needed.) \begin{tabular}{|c|c|} \hline Year & \begin{tabular}{c} Average Annual Wage \\ (\$ thousands) \end{tabular} \\ \hline 1970 & 9.7 \\ \hline 1980 & 20.8 \\ \hline 1990 & 27.2 \\ \hline 2000 & 49.8 \\ \hline 2002 & 44.4 \\ \hline 2004 & 48.8 \\ \hline 2006 & 59.9 \\ \hline 2008 & 57.9 \\ \hline 2010 & 66.2 \\ \hline 2015 & 72.6 \\ \hline 2020 & 102.9 \\ \hline 2025 & 119.5 \\ \hline 2030 & 135.4 \\ \hline 2035 & 155.8 \\ \hline 2040 & 200.4 \\ \hline \end{tabular}
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