does it pay to stay in school? a report looked at the median hourly wage gain per addition year of schooling. the report states that workers with a high school diploma had a median hourly wage that was 16% higher than those who had only completed 11 years of school. workers who had completed one year of college (13 years of education) had a median hourly wage that was 17% higher than workers who had completed only 12 years of school. the gain in median hourly wage for each additional year of school is shown in the accompanying table. the entry for 15 years has been intentionally omitted from the table.

a) use the given data to predict the median hourly wage for the 15th year of schooling.

b) the actual wage gain for the 15th year of schooling was 20% how close was the predicted wage gain percent from part a to the actual value ?