The Table Shows Average Salaries for Employees of Mediocre Tools

question 106

Essay

The table shows average salaries for employees of Mediocre Tools, Inc. Find a linear regression equation for the data and graph the equation with a scatter plot of the data. (Use x=0 for 1975 , and express values to the nearest hundredth.) Use this data to estimate the average salary in 2008 .
$\begin{array}{cc}\text { Year } & \text { Average Salary (\$) } \\\hline 1975 & 15,642 \\1980 & 16,580 \\1985 & 17,409 \\1990 & 19,150 \\1995 & 20,491 \\2000 & 21,925\end{array}$

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Definitions:

Corporate Controller

A senior executive responsible for managing the accounting operations of a company, overseeing the financial reporting, and ensuring accuracy in accordance with accounting standards.

Tax Management

The practice of strategically planning and executing financial matters to minimize tax liabilities and maximize tax benefits.

Financial Accounting

The branch of accounting that focuses on reporting a company's financial information to external users, such as investors and creditors.

Data Processing

The collection and manipulation of data to produce meaningful information.