The table shows the national expenditures for health care in the United States for selected years, with projections to 2020. National Expenditures Care (billions) for Health $28 75 254 714 T 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. KEIZ 60 1000 2000 3000 4000 5000 y 200 150 100 50 y 5000 4000 3000 O 2000 1000 Year 1960 1970 1980 1990 1995 2000 2005 2010 2015 2020 20 500 40 1000 60 80 1500 100 2000 Q y 100 80 40 20 5000 4000 3000 2000 1000 20 40 60 80 100 Q
The table shows the national expenditures for health care in the United States for selected years, with projections to 2020. National Expenditures Care (billions) for Health $28 75 254 714 T 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. KEIZ 60 1000 2000 3000 4000 5000 y 200 150 100 50 y 5000 4000 3000 O 2000 1000 Year 1960 1970 1980 1990 1995 2000 2005 2010 2015 2020 20 500 40 1000 60 80 1500 100 2000 Q y 100 80 40 20 5000 4000 3000 2000 1000 20 40 60 80 100 Q
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
Related questions
Question

Transcribed Image Text: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)
1960
$28
1970
75
1980
254
1990
714
IT
1995
1017
2000
1353
2005
1981
2010
2954
2015
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
200
150
100
50
Year
2020
20
40
60
y
5000
4000
U
3000
2000
1000
500
1000
80
1500
X
100
2000
X
y
y
5000
4000
PIZ
3000
2000
1000
X
3000 4000 5000
Q
100
80
60
40
20
1000
2000
20
40
60
80
100
X

Transcribed Image Text:(b) Find a power model and a quadratic model for the data. (Round all numerical values to four decimal places.)
y(x) =
power model
quadratic model y(x) =
(c) Which model from part (b) approximates more accurately the data point for 2020?
O power model
O quadratic model
(d) Use the quadratic model to predict the 2035 expenditures for national health care. (Round your answer to the nearest billion dollars.)
billion dollars
Expert Solution

This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 6 steps with 2 images

Recommended textbooks for you

Advanced Engineering Mathematics
Advanced Math
ISBN:
9780470458365
Author:
Erwin Kreyszig
Publisher:
Wiley, John & Sons, Incorporated

Numerical Methods for Engineers
Advanced Math
ISBN:
9780073397924
Author:
Steven C. Chapra Dr., Raymond P. Canale
Publisher:
McGraw-Hill Education

Introductory Mathematics for Engineering Applicat…
Advanced Math
ISBN:
9781118141809
Author:
Nathan Klingbeil
Publisher:
WILEY

Advanced Engineering Mathematics
Advanced Math
ISBN:
9780470458365
Author:
Erwin Kreyszig
Publisher:
Wiley, John & Sons, Incorporated

Numerical Methods for Engineers
Advanced Math
ISBN:
9780073397924
Author:
Steven C. Chapra Dr., Raymond P. Canale
Publisher:
McGraw-Hill Education

Introductory Mathematics for Engineering Applicat…
Advanced Math
ISBN:
9781118141809
Author:
Nathan Klingbeil
Publisher:
WILEY

Mathematics For Machine Technology
Advanced Math
ISBN:
9781337798310
Author:
Peterson, John.
Publisher:
Cengage Learning,

