1. the table shows the minimum wage rates for the united states during different years. year 1978 1979 1980 1990 1991 1996 1997 2007 2008 2009 minimum hourly wage ($) 2.65 2.90 3.35 3.80 4.25 4.75 5.15 5.85 6.55 7.25 (a) write the least squares regression equation that models the data. let x = time in years since 1900 and let y = minimum hourly wage. (b) use the equation to estimate the minimum hourly wage of a u. s. worker in 2025. show your work.

The regression equation will be given by: m(x-x1)=y-y1where: m=(y1-y)/(x1-x)thus from the data given we shall have: m=(7.25-3.8)/(2009-1990)=3.45/19=0.182thus the equation will be: taking 1990 as the zero we shall have: 0.182(x-0)=y-3.8thusy=0.182x+3.8thus the equation is: y=0.182x+3.8b]    use the equation to estimate the minimum hourly wage of a u.s. worker in 2025. show your work.x=2025-1990=35thusy=0.182(25)+3.8y=6.37+3.8y=10.17hence the hourly minimum wage will be $10.17