The minimum wage was $5.15 in 1990 and $7.25 in 2009 (Source: U.S. Dept. of Labor). Find the average rate of change in the minimum wage from 1990 to 2009. Express you answer using the units expressed in the problem. Show all work.
The average rate of change will be the slope of the straight line connecting the two points (1990,$5.15) and (2009,$7.25). Given any two points on a line, (x1,y1) and (x2,y2), the formula for the slope of the line, m, is:
m = (y2-y1)/(x2-x1)
Can you compute the slope (average rate of change) for your problem?