For this exercise, round all regression parameters to three decimal places. The following table shows national health care costs, measured in billions of dollars. Date 1970 1980 1990 2000 2010 Costs...

For this exercise, round all regression parameters to three decimal places.

The following table shows national health care costs, measured in billions of dollars.

Date	1970	1980	1990	2000	2010
Costs in billions	75	253	714	1353	2570

(a) Plot the data. (Lett be years since 1970 andH the costs in billions of dollars.)

b) Find an exponential function that approximates the data for health care costs. (Lett be years since 1970 andH the costs in billions of dollars.)

H = 3120.372 × 0.916^t

H = 993.002 × 1.002^t

H = 94.414 × 1.091^t

H = 2560.371 × 0.872^t

H = 72.438 × 1.143^t

(c) By what percent per year were national health care costs increasing during the period from 1970 through 2010? (Use the model found in part (b). Round your answer to one decimal place.)
%

(d) Use functional notation to express how much money was spent on health care in the year 2015. (Lett be years since 1970.)

Estimate that value. (Use the model found in part (b). Round your answer to the nearest integer.)
billion dollars

Jun 05, 2022

SOLUTION.PDF

Sun	Mon	Tue	Wed	Thu	Fri	Sat
30	31	1	2	3	4	5
6	7	8	9	10	11	12
13	14	15	16	17	18	19
20	21	22	23	24	25	26
27	28	29	30	1	2	3

For this exercise, round all regression parameters to three decimal places. The following table shows national health care costs, measured in billions of dollars. Date 1970 1980 1990 2000 2010 Costs...

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