Write the least squares regression equation that models the data. Let x = time in years since 1900 and let y = minimum hourly wage. (Round your values to the nearest hundredth.) Use the equation to estimate the minimum hourly wage of a Colorado State worker in 2025. Show your work.
From the excel plotting, we see that the least square regression equation is given by: m=(7.25-2.65)/(2009-1978) m=0.15 thus the equation will be: 0.15(x-0)=y-2.65 y=0.15x-2.65
b] Using the equation we can approximate the hourly wage in 2025 as follows: x=(2025-1978)=47 y=0.15(47)-2.65 y=7.05-2.65 y=4.4 The plot is as shown in the figure: