The file P16_07.xlsx contains observations of the U.S. minimum wage during each of the years from 1950 through 1994. Did the minimum wage grow at roughly a constant rate over this period? Use simple...

The file P16_07.xlsx contains observations of the U.S. minimum wage during each of the years from 1950 through 1994. Did the minimum wage grow at roughly a constant rate over this period? Use simple linear regression analysis to address this question. Explain your results.

Based on the data in the file P16_08.xlsx from the U.S. Department of Agriculture, explore the relationship between the number of farms (X) and the average size of a farm (Y) in the United States between 1950 and 1997. Specifically, generate a simple linear regression model and interpret it.