Assume that the national health care expenditure H (in billions of dollars) can be modeled (that is, accurately approximated) by the formula where t is the number of years past 1960. Approximate the national health expenditure in 1974. Round your answer to the nearest tenth of a billion.

Question

Assume that the national health care expenditure H (in billions of dollars) can be modeled (that is, accurately approximated) by the formula  where t is the number of years past 1960. Approximate the national health expenditure in 1974. Round your answer to the nearest tenth of a billion. ​

Quizplus · Accepted Answer

To find the national health expenditure in 1974, we need to substitute t=14 (since 1974 is 14 years past 1960) in the given formula:

H = 11e^(0.039(t-1960))
H = 11e^(0.039(14))
H = 11e^(0.546)
H ≈ 122.2 billion (rounded to the nearest tenth of a billion)

Therefore, the best choice is C, which is closest to the calculated value of 122.2 billion.

Assume That the National Health Care Expenditure H (In Billions