The table shows the national expenditures for health care in the United States for selected years, with projections to 2020. National Expenditures for Health Care (billions) $28 75 254 714 1017 1353 1981 2954 3308 4487 (a) Use a scatter plot with x as the number of years past 1950 and y as the total expenditures for health care (in billions) to identify what type (or types) of function(s) would make a good model for these data. y 5000 4000 3000 2000 1000 O Year 1960 1970 1980 1990 1995 2000 2005 2010 2015 2020 500 1000 : 1500 2000 X y 200 150 100 50 20 40 60 80 100 ( y 100 80 60 40 20 1000 2000 3000 4000 (b) Find a power model and a quadratic model for the data. (Round all numerical values to four decimal places.) power model y(x) = quadratic model y(x)= (c) Which model from part (b) approximates more accurately the data point for 2020? O power model O quadratic model X 5000 y 5000 4000 3000 2000 1000 O (d) Use the quadratic model to predict the 2030 expenditures for national health care. (Round your answer to the nearest billion dollars.) billion dollars 20 40 60 80 100
The table shows the national expenditures for health care in the United States for selected years, with projections to 2020. National Expenditures for Health Care (billions) $28 75 254 714 1017 1353 1981 2954 3308 4487 (a) Use a scatter plot with x as the number of years past 1950 and y as the total expenditures for health care (in billions) to identify what type (or types) of function(s) would make a good model for these data. y 5000 4000 3000 2000 1000 O Year 1960 1970 1980 1990 1995 2000 2005 2010 2015 2020 500 1000 : 1500 2000 X y 200 150 100 50 20 40 60 80 100 ( y 100 80 60 40 20 1000 2000 3000 4000 (b) Find a power model and a quadratic model for the data. (Round all numerical values to four decimal places.) power model y(x) = quadratic model y(x)= (c) Which model from part (b) approximates more accurately the data point for 2020? O power model O quadratic model X 5000 y 5000 4000 3000 2000 1000 O (d) Use the quadratic model to predict the 2030 expenditures for national health care. (Round your answer to the nearest billion dollars.) billion dollars 20 40 60 80 100
Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)
6th Edition
ISBN:9781337111348
Author:Bruce Crauder, Benny Evans, Alan Noell
Publisher:Bruce Crauder, Benny Evans, Alan Noell
Chapter3: Straight Lines And Linear Functions
Section3.3: Modeling Data With Linear Functions
Problem 16E: High School Graduates The following table shows the number, in millions, graduating from high school...
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