The median weekly earnings for 16-24-year-old men employed full time are given below. Median Weekly Earnings in Constant 2008 Dollars Earnings, s Year (dollars) 2000 375 2002 391 2003 398 2004 400 2005 409 2006 418 2008 461 (a) Why is a cubic model a reasonable choice for the data? O A scatter plot of the data suggests a cubic function because it is decreasing and is concave down before 2004 and concave up after 2004. O A scatter plot of the data suggests a cubic function because it is increasing and is concave up before 2004 and concave down after 2004. O A scatter plot of the data suggests a cubic function because it is decreasing and is concave up before 2004 and concave down after 2004. O A scatter plot of the data suggests a cubic function because it is increasing and is concave down before 2004 and concave up after 2004. (b) Write the function of the model that gives the weekly salary of 16-24-year old men in constant 2008 dollars, where t is the number of years since 2000, with data from 0 st 58. (Round all numerical values to three decimal places.) s(t) = (c) Use the model to estimate the median weekly earnings for 16-24-year-old men in 2010. (Round your answer to the nearest dollar.) $ (d) What type of estimation was made in part (c)? O interpolation O extrapolation The median weekly earnings for 16-24-year-old men employed full time are given below. Median Weekly Earnings in Constant 2008 Dollars Earnings, s Year (dollars) 2000 375 2002 391 2003 398 2004 400 2005 409 2006 418 2008 461 (a) Why is a cubic model a reasonable choice for the data? O A scatter plot of the data suggests a cubic function because it is decreasing and is concave down before 2004 and concave up after 2004. O A scatter plot of the data suggests a cubic function because it is increasing and is concave up before 2004 and concave down after 2004. O A scatter plot of the data suggests a cubic function because it is decreasing and is concave up before 2004 and concave down after 2004. O A scatter plot of the data suggests a cubic function because it is increasing and is concave down before 2004 and concave up after 2004. (b) Write the function of the model that gives the weekly salary of 16-24-year old men in constant 2008 dollars, where t is the number of years since 2000, with data from 0 st 58. (Round all numerical values to three decimal places.) s(t) = (c) Use the model to estimate the median weekly earnings for 16-24-year-old men in 2010. (Round your answer to the nearest dollar.) $ (d) What type of estimation was made in part (c)? O interpolation O extrapolation
