Minimum Wage The following table shows the hourly minimum
Chapter 13, Problem 1050(choose chapter or problem)
Minimum Wage The following table shows the hourly minimum wage in the U.S. for the years 20062010, where the column labeled Year refers to the number of years since 2006. a) Construct a scatter diagram placing the year on the horizontal axis. b) Use the scatter diagram in part (a) to determine whether you believe a correlation exists between the year and the minimum wage.c) Determine the correlation coefficient between the year and the minimum wage. d) Determine whether a correlation exists at a = 0.05. e) Determine the equation of the line of best fit between the year and the minimum wage. Round both the slope and y-intercept to the nearest hundredth. f ) Use the equation in part (e) to predict the minimum wage in 2014.
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