) U.S. Health care expenditures. Because the over-65 population is growing more rapidly in the next few decades health care spending is expected to increase significantly in the next few decades. The following table gives the projected US health care expenditure (in trillions) from 2008 to 2013 Year 2008 2009 2010 2011 2012 2012 Expenditure 2.34 2.47 2.57 2.70 2.85 3.02 a) Draw a scatter diagram for this data. Use “Years since 2008” on the x-axis. Make sure the scatter diagram includes all required elements (axes labels, title, and appropriate scale) b) Use the points for 2009 and 2011 to find an equation of a line modeling this situation c) Use linear regression to find an equation of a line modeling this situation
3) U.S. Health care expenditures. Because the over-65 population is growing more rapidly in the next
few decades health care spending is expected to increase significantly in the next few decades. The
following table gives the projected US health care expenditure (in trillions) from 2008 to 2013
| Year | 2008 | 2009 | 2010 | 2011 | 2012 | 2012 |
| Expenditure | 2.34 | 2.47 | 2.57 | 2.70 | 2.85 | 3.02 |
a) Draw a
diagram includes all required elements (axes labels, title, and appropriate scale)
b) Use the points for 2009 and 2011 to find an equation of a line modeling this situation
c) Use linear regression to find an equation of a line modeling this situation
d) Use the equation in b to predict expenditures in 2016 and do this again for the equation in part c.
What is the absolute and percentage difference between the two equations (use the equation in c as the
base equation in the % calculation)
e) Now use extrapolation using the last two data points to make a prediction for 2016
f) The actual National health care expenditure in 2016 was 3.3 trillion comment on the accuracy of the
three methods
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