Suppose that the following table shows the average hourly earnings for full-time production workers in various industries for selected years. Find the linear regression equation for hourly earnings as a function of time (with representing 1970) . Round numerical values in your answer to four decimal places.
A)
(where
Is the number of years after 1970 and
Is the average hourly wage)
B)
(where
Is the number of years after 1970 and
Is the average hourly wage)
C)
(where
Is the number of years after 1970 and
Is the average hourly wage)
D)
(where
Is the number of years after 1970 and
Is the average hourly wage)
E)
(where
Is the number of years after 1970 and
Is the average hourly wage)
Correct Answer:
Verified
Q78: Suppose that the production function for a
Q79: Suppose that the production function for a
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