Concept explainers
The total national expenditure for health care has been increasing since the year 2000. For privately insured individuals in the United States, the following models give the total amount spent for health insurance premiums I (in $ billions) and the total amount spent on other out-of-pocket health-related expenses P (in S billions). (Source: U.S. Centers for Medicare & Medicaid Services, www.census.gov)
I = 45.58 x + 460.1 Total spent on health insurance premiums x years since 2000.
P = 10.86 x + 191.5 Other out-of-pocket health-related expenses x years since 2000.
Use these models for Exercises 55–58.
a. Write and simplify the polynomial representing I + P.
b. Interpret the meaning of the polynomial from part (a).
c. Evaluate the polynomial I + P for x = 6, and interpret the meaning of this value.
Want to see the full answer?
Check out a sample textbook solutionChapter R Solutions
COLLEGE ALGEBRA W/ALEKS BUNDLE
- If you are performing a break-even analysis for a business and their cost and revenue equations are dependent, explain what this means for the company's profit margins.arrow_forwardUsing your own words, list the steps in the general strategy for solving linear equations.arrow_forwardIf you perform your break-even analysis and there is more than one solution, explain how you would determine which x-values are profit and which are not.arrow_forward
- US Census data shows that the median price of new home in the U.S. in November 2014 was $280,900. This was $10,700 more than 14 times the price in November 1964. What was the median price of a new home in November 1964?arrow_forwardFor the revenue model in Exercise 10.206 and Exercise 10.210, explain what the x-intercepts mean to the backpack retailer.arrow_forwardThanh and Nhat leave their office in Sacramento at the same time. Thanh drives north on I-5 at a speed of 72 miles per hour. Nhat drives south on I-5 at a speed of 76 miles per hour. How long will it take them to be 330 miles apart?arrow_forward
- The manufacturer of a weight training bench spends $120 to build each bench and sells them for $170. The manufacturer also has fixed costs each month of $150,000. (a) Find the cost function C when x benches are manufactured. (b) Find the revenue function R when x benches are sold. (c) Show the break-even point by graphing both the Revenue and Cost functions on the same grid. (d) Find the break-even point. Interpret what the break-even point means.arrow_forwardMike, an experienced bricklayer, can build a wall in 3 hours, while his son, who is learning, can do the job in 6 hours. How long does it take for them to build a wall together?arrow_forward
- College AlgebraAlgebraISBN:9781305115545Author:James Stewart, Lothar Redlin, Saleem WatsonPublisher:Cengage LearningGlencoe Algebra 1, Student Edition, 9780079039897...AlgebraISBN:9780079039897Author:CarterPublisher:McGraw Hill
- Algebra for College StudentsAlgebraISBN:9781285195780Author:Jerome E. Kaufmann, Karen L. SchwittersPublisher:Cengage LearningAlgebra: Structure And Method, Book 1AlgebraISBN:9780395977224Author:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. ColePublisher:McDougal Littell