(Medicare). The annual expenditures for Medicare (in billions of dollars) by the US Government for selected years since 1980 are shown in Table 4. Let x represent the years since 1980. (Use 4 decimal places in all answers.) Table 4: Medicare Expenditures Year Billion $ 1980 37 1985 72 1990 111 1995 181 2000 197 2005 330 A. Find the exponential regression model for the data. M(x) = B. What is the r2 value for this model? r2 = C. Extimate (to the nearest billion) the expenditures in 2008? The Medicare expenditures in 2008 were about $ billion.

Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter1: Functions
Section1.CR: Chapter 1 Review
Problem 86CR
icon
Related questions
Question

(Medicare). The annual expenditures for Medicare (in billions of dollars) by the US Government for selected years since 1980 are shown in Table 4. Let x represent the years since 1980. (Use 4 decimal places in all answers.)

Table 4: Medicare Expenditures

Year Billion $
1980 37
1985 72
1990 111
1995 181
2000 197
2005 330


A. Find the exponential regression model for the data.
M(x) = 

 
 
 


B. What is the r2 value for this model?
r2 = 

 
 
 


C. Extimate (to the nearest billion) the expenditures in 2008?
The Medicare expenditures in 2008 were about $ 

 
 
 

 billion.

Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 1 images

Blurred answer
Similar questions
Recommended textbooks for you
Calculus For The Life Sciences
Calculus For The Life Sciences
Calculus
ISBN:
9780321964038
Author:
GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:
Pearson Addison Wesley,
College Algebra
College Algebra
Algebra
ISBN:
9781938168383
Author:
Jay Abramson
Publisher:
OpenStax
Glencoe Algebra 1, Student Edition, 9780079039897…
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
Functions and Change: A Modeling Approach to Coll…
Functions and Change: A Modeling Approach to Coll…
Algebra
ISBN:
9781337111348
Author:
Bruce Crauder, Benny Evans, Alan Noell
Publisher:
Cengage Learning
Algebra & Trigonometry with Analytic Geometry
Algebra & Trigonometry with Analytic Geometry
Algebra
ISBN:
9781133382119
Author:
Swokowski
Publisher:
Cengage