In 1968, U.S. minimum wage was $1.60 per hour. In 1976, minimum wage was $2.30 per hour. Suppose minimum wage increases according to exponential model w(t), where t represents time in years after 1960.
(a) Determine formula for w(t).
Town of Pinedale, Wyoming, is experiencing the population boom. In 1990, population was 860 and five years later it was 1210.
(a) Find the linear model l(x) and the exponential model p(x) for population of Pinedale in year 1990+x.