Find a formula for the median income

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Reference no: EM131200744

U.S. Exports to China U.S. exports to China have grown (although at a slower rate than imports) since 2001. In 2001, about 19.1 billion dollars of goods were exported to China. By 2008, this amount had grown to 69.7 billion dollars. Write a linear equation describing the number of exports each year, with t 5 1 representing 2001 and t 5 8 representing 2008. Source: TradeStats ExpressTM.

Median Income The U.S. Census Bureau reported that the median income for all U.S. households in 2008 was
$50,303. In 1988, the median income (in 2008 dollars) was
$47,614. The median income is approximately linear and is a function of time. Find a formula for the median income, I, as a function of the year t, where t is the number of years since 1900. Source: U.S Census Bureau.

Reference no: EM131200744

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