Exercise 9.6.24 The National Health Expenditures report, released in January 2009, stated that overall health care spending in the United States rose from $7062 per person in 2006 to $7421 per person in 2007. (a) Calculate both the absolute change and percentage change in health care spending per person from 2006 to 2007. (b) Using 2006 as your starting year (2006 = year 0), determine an exponential equation that calculates the amount of health care spending over time assuming the annual percentage change stays the same. Clearly identify the variable names and symbols in your equation. (c) Using 2006 as your starting year (2006 = year 0), determine a linear equation that calculates the amount of health care spending over time assuming the annual absolute change stays the same. Clearly identify the variable names and symbols in your equation.
Exercise 9.6.24
The National Health Expenditures report, released in January 2009, stated that overall
health care spending in the United States rose from $7062 per person in 2006 to $7421 per
person in 2007.
(a) Calculate both the absolute change and percentage change in health care spending per person
from 2006 to 2007.
(b) Using 2006 as your starting year (2006 = year 0), determine an exponential equation that
calculates the amount of health care spending over time assuming the annual percentage
change stays the same. Clearly identify the variable names and symbols in your equation.
(c) Using 2006 as your starting year (2006 = year 0), determine a linear equation that calculates
the amount of health care spending over time assuming the annual absolute change stays
the same. Clearly identify the variable names and symbols in your equation.
Trending now
This is a popular solution!
Step by step
Solved in 5 steps with 4 images
