In the problem involving days, a 365−day year is assumed.
Medicare. The annual expenditures for Medicare (in billions of dollars) by the U.S. government for selected years since 1980 are shown in the table. Let x represent years since 1980.
Medicare Expenditures
Year | Billion $ |
1980 | 37 |
1985 | 72 |
1990 | 111 |
1995 | 181 |
2000 | 197 |
2005 | 299 |
2010 | 452 |
(A) Find an exponential regression model (y = abx) for the data. Estimate (to the nearest billion) the annual expenditures in 2022.
(B) When will the annual expenditures reach two trillion dollars?
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