Problema Solution
The average hourly earnings of a U.S. production worker in 1997 were $12.92. In 2005, the average hourly earnings had increased to $16.84. Let y be the average hourly earnings in the year x, where x = 0 represents the year 1997.Find a linear equation which could be used to predict the average hourly earnings y in a given year x, where x = 0 represents the year 1997
Answer provided by our tutors
Let the equation be y = mx + c
where x = 0 represents the year 1997
and y is the average hourly earnings
When x =0, given y = 12.92 Putting this in the above equation
12.92 = m(0) + c
c = 12.92
Our equation becomes y = mx + 12.92
Also given in 2005, y = 16.84 and x = 2005- 1997 = 8 Putting this again in the equatin
16.84= m(8) + 12.92
8m = 16.84 - 12.92 = 3.92
m = 3.92/8 = 0.49
Thus, the required equation is y = 0.49x + 12.92
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