23. b.) The slope indicates that the median household income for men living with

Question

23. b.) The slope indicates that the median household income for men living without a spouse increases about $.913 thousand or $913 per year.

24. Finance: The accompanying table gives the median household income (in thousands of dollars) for women living without a spouse ( this means that 50% of females earn more than the median and 50% earn less than that amount) for various years*:

Year 1980 1990 1995 1997 1998 1999
Income 10.4 16.6 19.7 21.0 22.1 23.8

Year 2000 2001 2002 2003 2004 2005
Income 25.7 25.7 26.4 26.6 27.0 27.2

a) Find a linear model for these data, with corresponding to 1980.
b) Interpret the meaning of the slope.
c) Comparing your answer for (b) with your answer for part (b) in Exercise 23, are men or women gaining more in median income each year?

Explanation / Answer

slope for women is (27.2-10.4)/(2005-1980)= 16.8/25=0.672 I= 0.672 t + 10.4 with t equaling years since 1980 Slope indicates women's median incomes are increasing $0.672 thousand a year. Since men are at $0.913 as compared to $0.672 for women, mena are gaining more.

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