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Billions of dollar: Group problems: 1.The cost for almost every aspect of health care in the U.S. has risen dramatically over the last 40 years. One of the central issues in the ongoing debate about containing health care costs is the amount of federal dollars spent on Medicare. Medicare is a federal program that, since 1966, has provided two coordinated plans for nearly all citizens age 65 or over. The shape of this graph suggests that an exponential function will model Medicare expenses fairly Figure 5.12 Medicare expenditures (in billions of dollars). Source: U.S. Bureau of the Census, The Statistical Abstract of the United States, 1999. 250 150 well. The data shown in the graph is from the U.S. Bureau of the Census as shown in The Statistical Abstract of the U.S. 1999. It gives Medicare expenses in billions of dollars 1970 1975 1980 1985 1995 Year Year 1970 1975 1980 1985 1995 Medicare expenses in billions of $ 7.7 16.4 37.5 72.2 112.1 184.2 a. Use the regression capabilities of your technology to find the equation that best approximates the Medicare data given in the table above. Use four decimal places in your base B. Remember the exponential model is y = A(B)*. Define your variables. %3D 5=(8.9x10-104) (l.135qx) =8.9X10 B=1,1359 b. Write a sentence explaining what your base number B tells us about Medicare expenses. we are multiplying lol359 to A every that the medicare year,itindicates e expenses increase ny 9 c. Does your model overestimate or underestimate Medicare fictor of 1-1359. expenses in 1970? By how As the valve 9.3144 is greater then 7.7given) this model ORverestimates the data much? 10 d. Use your model to predict Medicare expenses for this year. Show how you got your answer. e. Now round the base B in your model to two decimal places. Using this new value, how much does your prediction of this year's Medicare expenses change? Does rounding the base of an exponential model to two or four places make much of a difference? 127

Billions of dollar: Group problems: 1.The cost for almost every aspect of health care in the U.S. has risen dramatically over the last 40 years. One of the central issues in the ongoing debate about containing health care costs is the amount of federal dollars spent on Medicare. Medicare is a federal program that, since 1966, has provided two coordinated plans for nearly all citizens age 65 or over. The shape of this graph suggests that an exponential function will model Medicare expenses fairly Figure 5.12 Medicare expenditures (in billions of dollars). Source: U.S. Bureau of the Census, The Statistical Abstract of the United States, 1999. 250 150 well. The data shown in the graph is from the U.S. Bureau of the Census as shown in The Statistical Abstract of the U.S. 1999. It gives Medicare expenses in billions of dollars 1970 1975 1980 1985 1995 Year Year 1970 1975 1980 1985 1995 Medicare expenses in billions of $ 7.7 16.4 37.5 72.2 112.1 184.2 a. Use the regression capabilities of your technology to find the equation that best approximates the Medicare data given in the table above. Use four decimal places in your base B. Remember the exponential model is y = A(B)*. Define your variables. %3D 5=(8.9x10-104) (l.135qx) =8.9X10 B=1,1359 b. Write a sentence explaining what your base number B tells us about Medicare expenses. we are multiplying lol359 to A every that the medicare year,itindicates e expenses increase ny 9 c. Does your model overestimate or underestimate Medicare fictor of 1-1359. expenses in 1970? By how As the valve 9.3144 is greater then 7.7given) this model ORverestimates the data much? 10 d. Use your model to predict Medicare expenses for this year. Show how you got your answer. e. Now round the base B in your model to two decimal places. Using this new value, how much does your prediction of this year's Medicare expenses change? Does rounding the base of an exponential model to two or four places make much of a difference? 127

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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Billions of dollar: Group problems: 1.The cost for almost every aspect of health care in the U.S. has risen dramatically over the last 40 years. One of the central issues in the ongoing debate about containing health care costs is the amount of federal dollars spent on Medicare. Medicare is a federal program that, since 1966, has provided two coordinated plans for nearly all citizens age 65 or over. The shape of this graph suggests that an exponential function will model Medicare expenses fairly Figure 5.12 Medicare expenditures (in billions of dollars). Source: U.S. Bureau of the Census, The Statistical Abstract of the United States, 1999. 250 150 well. The data shown in the graph is from the U.S. Bureau of the Census as shown in The Statistical Abstract of the U.S. 1999. It gives Medicare expenses in billions of dollars 1970 1975 1980 1985 1995 Year Year 1970 1975 1980 1985 1995 Medicare expenses in billions of $ 7.7 16.4 37.5 72.2 112.1 184.2 a. Use the regression capabilities of your technology to find the equation that best approximates the Medicare data given in the table above. Use four decimal places in your base B. Remember the exponential model is y = A(B)*. Define your variables. %3D 5=(8.9x10-104) (l.135qx) =8.9X10 B=1,1359 b. Write a sentence explaining what your base number B tells us about Medicare expenses. we are multiplying lol359 to A every that the medicare year,itindicates e expenses increase ny 9 c. Does your model overestimate or underestimate Medicare fictor of 1-1359. expenses in 1970? By how As the valve 9.3144 is greater then 7.7given) this model ORverestimates the data much? 10 d. Use your model to predict Medicare expenses for this year. Show how you got your answer. e. Now round the base B in your model to two decimal places. Using this new value, how much does your prediction of this year's Medicare expenses change? Does rounding the base of an exponential model to two or four places make much of a difference? 127
Transcribed Image Text:Billions of dollar: Group problems: 1.The cost for almost every aspect of health care in the U.S. has risen dramatically over the last 40 years. One of the central issues in the ongoing debate about containing health care costs is the amount of federal dollars spent on Medicare. Medicare is a federal program that, since 1966, has provided two coordinated plans for nearly all citizens age 65 or over. The shape of this graph suggests that an exponential function will model Medicare expenses fairly Figure 5.12 Medicare expenditures (in billions of dollars). Source: U.S. Bureau of the Census, The Statistical Abstract of the United States, 1999. 250 150 well. The data shown in the graph is from the U.S. Bureau of the Census as shown in The Statistical Abstract of the U.S. 1999. It gives Medicare expenses in billions of dollars 1970 1975 1980 1985 1995 Year Year 1970 1975 1980 1985 1995 Medicare expenses in billions of $ 7.7 16.4 37.5 72.2 112.1 184.2 a. Use the regression capabilities of your technology to find the equation that best approximates the Medicare data given in the table above. Use four decimal places in your base B. Remember the exponential model is y = A(B)*. Define your variables. %3D 5=(8.9x10-104) (l.135qx) =8.9X10 B=1,1359 b. Write a sentence explaining what your base number B tells us about Medicare expenses. we are multiplying lol359 to A every that the medicare year,itindicates e expenses increase ny 9 c. Does your model overestimate or underestimate Medicare fictor of 1-1359. expenses in 1970? By how As the valve 9.3144 is greater then 7.7given) this model ORverestimates the data much? 10 d. Use your model to predict Medicare expenses for this year. Show how you got your answer. e. Now round the base B in your model to two decimal places. Using this new value, how much does your prediction of this year's Medicare expenses change? Does rounding the base of an exponential model to two or four places make much of a difference? 127
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