Mathematics, 06.11.2020 01:40 Dragonflare
In 1968, the U. S. minimum wage was $1.60 per hour. In 1976, the minimum wage was $2.30 per hour. Assume the minimum wage grows according to an exponential model where n represents the time in years after 1968.
a. Find an explicit formula for the minimum wage.
b. What does the model predict for the minimum wage in 1960?
c. If the minimum wage was $5.15 in 1996, is this above, below or equal to what the model predicts?
d. What does the model predict for the minimum wage in 2020?
Answers: 2
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In 1968, the U. S. minimum wage was $1.60 per hour. In 1976, the minimum wage was $2.30 per hour. As...
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