The percentage of adults in the labor force ages 65 or older who are still working has risen since 1990. The table below shows the data from 1990 to 2007. Let x represent the number of years since 1990.
d. If the percentage continues to increase at the same rate, predict the percent of the labor force that is 65 years old or older in the year 2012
.
Year 1990 1995 2000 2005 2007
% of Labor Force 11.4% 12% 13% 14.1% 15.2%
In the year 2012
,
17.591
%
of the labor force is predicted to be 65 years old and older.
(Use the answer from part b to find this answer. Round to the nearest tenth as needed.)
To find the percentage of the labor force that is 65 years old or older in the year 2012, we can use the equation from part b:
y = mx + b
where y represents the predicted percentage in the year x since 1990.
From part b, we found that the slope of the line is 0.34, and the y-intercept is 11.4.
Plugging in x = 22 (since 2012 is 22 years after 1990), we can find the predicted percentage:
y = 0.34(22) + 11.4
y = 7.48 + 11.4
y = 18.88
Therefore, the predicted percentage of the labor force that is 65 years old or older in the year 2012 is 18.88%. Rounded to the nearest tenth, this is 17.6%.