According to the US Census Bureau, the 2008 mean income by
Chapter , Problem 11.7.33(choose chapter or problem)
According to the US Census Bureau, the 2008 mean income by age is as given in Table 11.39.28 (a) Choose the best type of function to fit the data: linear, exponential, power, or quadratic. (b) Using a mid-range age value for each interval, find an equation to fit the data. (c) Interpolation estimates incomes for ages within the range of the data. Predict the income of a 37-yearold. (d) Extrapolation estimates incomes outside the range of data. Use your function to predict the income of a 10- year-old. Is it reasonable? Table 11.39 Age Mean income, dollars 15 to 24 14,268 25 to 34 36,146 35 to 44 47,520 45 to 54 49,570 55 to 64 46,408 65 to 74 33,286 75+ years 24,396
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