Business The following table shows data provided by the National Center for Health Statistics on total national health expenditures (in billions of dollars) for the United States in various years:
Year | 1980 | 1990 | 1995 | 2000 | 2002 | 2003 | 2004 |
Amount | 254.9 | 717.3 | 1024.4 | 1358.5 | 1607.9 | 1740.6 | 1877.6 |
(a) Let x = 0 correspond to 1980, and find the least-squares regression line for the data.
(b) What is the correlation coefficient? Does it indicate that the line is a good fit?
(c) Assuming the trend continues, estimate the total health care expenditures for 2012.
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