The number of people (in millions) enrolled in health maintenance organizations (HMOs) for the 20 years following 1976 can be given approximately by the natural growth model P(t) = 6.0(1.12)t (where t is years after 1976. (Model based on data from World Almanac and Rook o f Facts 2005.)
a. According to this model, how many people were enrolled in HMOs in 1976?
b. At what annual percentage rate was the number of people enrolled m HMOs growing over this time period?
c. Use the model to predict the number of people enrolled in HMOs in 1999. How does your prediction compare to 81.3 million, the actual number of people enrolled in HMOs in 1999?
d. Use the model to predict the number of people enrolled in HMOs in 2000. How does your prediction compare to 80.9 million, the actual number of people enrolled in HMOs in 2000?
e. How do you explain the discrepancy in part (d)?
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