Use technology to find the exponential regression function through the given points....

Use technology to find the exponential regression function through the given points. (Round all coefficients to 4 decimal places.) HINT [See Example 6.]

Example 6:

The following table shows annual expenditure on health in the United States from 1980 through 2010 (t = 0 represents 1980).*

a. Find the exponential regression model

for the annual expenditure.

b. Use the regression model to estimate the expenditure in 2002 (t = 22; the actual expenditure was approximately $1,550 billion).

Solution

a. We use technology to obtain the exponential regression curve (see Figure 13):

which is close to the actual number of around $1,550 billion.

{(-1, 2), (-3, 5), (-4, 9), (-5, 20)}