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Data concerning the expenditure for health care in the United States is shown in the table. Year 2000 2004 2005 2007 2008 2009 2012 2013 2015 Expenditure (billions $) 1359 1878 2016 2320 2498 2689 3298 3533 4032 a. Make a graph of the data large enough to include 2018 (use graph paper, label completely, and choose the correct axis for the independent (x) and dependent (y) variables). b. Find the growth rate (b) between 2004 and 2005, rounded to 3 decimal places. c. Find the growth rate (b) between 2012 and 2015, rounded to 3 decimal places. Hint: the years are not consecutive so you will need to substitute the numbers you know into the equation y = ab and solve for b. d. Add a trend line and estimate the expenditure you would expect in 2018. $ billion e. Use your trend line to estimate the year the US health expenditure reached $3000 billion.

Data concerning the expenditure for health care in the United States is shown in the table. Year 2000 2004 2005 2007 2008 2009 2012 2013 2015 Expenditure (billions $) 1359 1878 2016 2320 2498 2689 3298 3533 4032 a. Make a graph of the data large enough to include 2018 (use graph paper, label completely, and choose the correct axis for the independent (x) and dependent (y) variables). b. Find the growth rate (b) between 2004 and 2005, rounded to 3 decimal places. c. Find the growth rate (b) between 2012 and 2015, rounded to 3 decimal places. Hint: the years are not consecutive so you will need to substitute the numbers you know into the equation y = ab and solve for b. d. Add a trend line and estimate the expenditure you would expect in 2018. $ billion e. Use your trend line to estimate the year the US health expenditure reached $3000 billion.

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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Data concerning the expenditure for health care in the United States is shown in the table. Year 2000 2004 2005 2007 2008 2009 2012 2013 2015 Expenditure (billions $) 1359 1878 2016 2320 2498 2689 3298 3533 4032 a. Make a graph of the data large enough to include 2018 (use graph paper, label completely, and choose the correct axis for the independent (x) and dependent (y) variables). b. Find the growth rate (b) between 2004 and 2005, rounded to 3 decimal places. c. Find the growth rate (b) between 2012 and 2015, rounded to 3 decimal places. Hint: the years are not consecutive so you will need to substitute the numbers you know into the equation y = ab* and solve for b. d. Add a trend line and estimate the expenditure you would expect in 2018. billion e. Use your trend line to estimate the year the US health expenditure reached $3000 billion.
Transcribed Image Text:Data concerning the expenditure for health care in the United States is shown in the table. Year 2000 2004 2005 2007 2008 2009 2012 2013 2015 Expenditure (billions $) 1359 1878 2016 2320 2498 2689 3298 3533 4032 a. Make a graph of the data large enough to include 2018 (use graph paper, label completely, and choose the correct axis for the independent (x) and dependent (y) variables). b. Find the growth rate (b) between 2004 and 2005, rounded to 3 decimal places. c. Find the growth rate (b) between 2012 and 2015, rounded to 3 decimal places. Hint: the years are not consecutive so you will need to substitute the numbers you know into the equation y = ab* and solve for b. d. Add a trend line and estimate the expenditure you would expect in 2018. billion e. Use your trend line to estimate the year the US health expenditure reached $3000 billion.
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