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.
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 2013.
Year 1990 1995 2000 2005 2007
% of Labor Force 12.7% 13.3% 14.7% 15.8% 16.4%
In order to predict the percentage of the labor force that is 65 years old or older in the year 2013, we need to determine the rate at which the percentage has been increasing.
To determine the rate of increase, we can calculate the change in percentage from 1990 to 2007 and divide it by the number of years:
Change in percentage = 16.4% - 12.7% = 3.7%
Number of years = 2007 - 1990 = 17
Rate of increase = Change in percentage / Number of years = 3.7% / 17 = 0.2176% per year
To predict the percentage in 2013, we need to determine the number of years since 1990:
Number of years since 1990 = 2013 - 1990 = 23
Now, we can calculate the predicted percentage in 2013:
Predicted percentage in 2013 = 16.4% + (0.2176% per year * 23 years) = 16.4% + 4.9998% = 21.3998%
Therefore, the predicted percentage of the labor force that is 65 years old or older in the year 2013 is 21.4%.