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.