Mathematics 341 - Spring 2013

Homework

Chapter 6

Exercises: 6.16, 6.19, 6.20, 6.21, 6.27, 6.30

Also: The highest salary for a major league baseball player is given, by year, in the following table:

Year Highest Salary
1985 2130300
1986 2800000
1987 2127333
1988 2340000
1989 2766667
1990 3200000
1991 3800000
1992 6100000
1993 6200000
1994 6300000
1995 9237500
1996 9237500
1997 10000000
1998 14936667
1999 11949794
2000 15714286
2001 22000000
2002 22000000
2003 22000000
2004 22500000
2005 26000000
2006 21680727
2007 23428571
2008 28000000
2009 33000000
2010 33000000

Fit a model of the form $y = ax^b$ to this data, where $y$ is the highest salary and $x$ is the number of years since 1980. Make a scatterplot with a plot of the fitted function.