if the national economy shrank at an annual rate of 6% per year for 3 consecutive years, then the economy shrank by 18% over the
2 answers:
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Answer:
a)
b)
c) For this case we can use the slope from the linear model to answer this question, the 0.95 on this case represent the increase in the hourly pay rate per each year of experience, for example if we have one year of experience the pay rate increase 0.95. So then the answer for this case is 0.95.
Step-by-step explanation:
Assuming the following question: "The scatter plot shows the number of years of experience, x, and the hourly pay rate, y, for each of 25 cashiers in Ohio. x represent the number of years of experience and y the hourly pay rate. The line adusted is: y=0.95x+7.95, to answer the questions below. Give exact answers, not rounded approximations. "
(a) What is the predicted hourly pay rate for a cashier with 7 years of experience?
For this case we can use the lineal model given:
And we can replace x =7 years and we got:
(b) What is the predicted hourly pay rate for a cashier who doesn't have any experience?
For this case we just need to replace in the linear model x=0 since that means no experience and we got:
(c) For an increase of one year of experience, what is the predicted increase in the hourly pay rate?"
For this case we can use the slope from the linear model to answer this question, the 0.95 on this case represent the increase in the hourly pay rate per each year of experience, for example if we have one year of experience the pay rate increase 0.95. So then the answer for this case is 0.95.