QuestionThe minimum hourly wage, $y$ (in dollars per hour), in a country can be approximated by the equation $y=0.16 x+2.63$. In this equation, $x$ represents the number of years since 1970 ( $x=0$ represents 1970, $x=5$ represents 1975, and so on).
Federal Minimum Hourly Wage by Year
Part 1 of 4 (a) Use the equation to approximate the minimum wage in the year 1975.
The minimum wage in 1975 was approximately $\$ 3.43$. $\square$
Part 2 of 4 (b) Use the equation to estimate the minimum wage in the year 1995.
The minimum wage in 1995 was approximately $\$ 6.63$.
Part: $2 / 4$
Part 3 of 4 (c) Determine the $y$-intercept. Interpret the meaning of the $y$-intercept in the context of this problem.
The $y$-intercept is $\square$ $\square$ . In the year $\square$ the minimum wage was approximately $\$$ $\square$ per hour.