The end-of-year assets of the Medicare Hospital Insurance Trust Fund (in billions of
Chapter 3, Problem 88(choose chapter or problem)
Modeling Data The end-of-year assets of the Medicare Hospital Insurance Trust Fund (in billions of dollars) for the years 1995 through 2006 are shown.
1995: 130.3; 1996: 124.9; 1997: 115.6; 1998: 120.4;
1999: 141.4; 2000: 177.5; 2001: 208.7; 2002: 234.8;
2003: 256.0; 2004: 269.3; 2005: 285.8; 2006: 305.4
(Source: U.S. Centers for Medicare and Medicaid Services)
(a) Use the regression capabilities of a graphing utility to find a model of the form \(M=a t^{4}+b t^{3}+c t^{2}+d t+e\) for the data. (Let t = 5 represent 1995 .)
(b) Use a graphing utility to plot the data and graph the model.
(c) Find the minimum value of the model and compare the result with the actual data.
Text Transcription:
M=at^4+bt^3+ct^2+dt+e
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