*Please answer FULL question. Please make sure the answers are clear and readabl
ID: 3209339 • Letter: #
Question
*Please answer FULL question. Please make sure the answers are clear and readable. Thank you!**
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
A) 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) =
B) Use the quadratic model to predict the 2035 expenditures for national health care. (Round your answer to the nearest billion dollars.)
=billion dollars
Explanation / Answer
Given,
Using Regression analysis in excel, we get the below output
Hence the Quadratic equation/model is given as
Y(x)=1968.71+0.025684448x-0.000003338856x^2
Expenditure in billions Year X X^2 1960 28 784 1970 75 5625 1980 254 64516 1990 714 509796 1995 1017 1034289 2000 1353 1830609 2005 1981 3924361 2010 2954 8726116 2015 3308 10942864 2020 4487 20133169Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.