Suppose that the following table shows the average hourly earnings for full-time production workers in various industries for selected years. The linear regression equation for hourly earnings as a function of time is given by (where x is the number of years after 1970 and y is the average hourly wage). What does this model predict for the average hourly earnings in 2024? Round your answer to two decimal places.

A) $42.51
B) $327.10
C) $43.41
D) $326.20
E) $325.80

Question

Suppose that the following table shows the average hourly earnings for full-time production workers in various industries for selected years. The linear regression equation for hourly earnings as a function of time is given by

(where x is the number of years after 1970 and y is the average hourly wage) . What does this model predict for the average hourly earnings in 2024? Round your answer to two decimal places.

A) $42.51 
B) $327.10 
C) $43.41 
D) $326.20 
E) $325.80

Quizplus · Accepted Answer

The Answer of Suppose that the following table shows the average hourly earnings for full-time production workers in various industries for selected years. The linear regression equation for hourly earnings as a function of time is given by  (where x is the number of years after 1970 and y is the average hourly wage). What does this model predict for the average hourly earnings in 2024? Round your answer to two decimal places. ​

A) $42.51 
B) $327.10 
C) $43.41 
D) $326.20 
E) $325.80

Suppose That the Following Table Shows the Average Hourly Earnings