The table shows the national expenditures for health care in the United States for selected years, with projections to 2020. Year National Expenditures for Health Care (billions) 1960 $28 1970 75 1980 254 1990 714 1995 1017 2000 1353 2005 1981 2010 2954 2015 3308 2020 4487 (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) = .4955x2−5.7858x+27.3833 (c) Which model from part (b) approximates more accurately the data point for 2020? power modelquadratic model (d) Use the quadratic model to predict the 2025 expenditures for national health care. (Round your answer to the nearest billion dollars.) billion dollars
The table shows the national expenditures for health care in the United States for selected years, with projections to 2020. Year National Expenditures for Health Care (billions) 1960 $28 1970 75 1980 254 1990 714 1995 1017 2000 1353 2005 1981 2010 2954 2015 3308 2020 4487 (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) = .4955x2−5.7858x+27.3833 (c) Which model from part (b) approximates more accurately the data point for 2020? power modelquadratic model (d) Use the quadratic model to predict the 2025 expenditures for national health care. (Round your answer to the nearest billion dollars.) billion dollars
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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The table shows the national expenditures for health care in the United States for selected years, with projections to 2020.
| Year | National Expenditures for Health Care (billions) |
|---|---|
| 1960 | $28 |
| 1970 | 75 |
| 1980 | 254 |
| 1990 | 714 |
| 1995 | 1017 |
| 2000 | 1353 |
| 2005 | 1981 |
| 2010 | 2954 |
| 2015 | 3308 |
| 2020 | 4487 |
(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) | = |
.4955x2−5.7858x+27.3833
|
(c) Which model from part (b) approximates more accurately the data point for 2020?
power modelquadratic model
(d) Use the quadratic model to predict the 2025 expenditures for national health care. (Round your answer to the nearest billion dollars.)
billion dollars
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