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(Solved): x represents the year, where x=0 coresponds to 2003 (a) Eivimate out-od.pocket household spending o ...
represents the year, where coresponds to 2003 (a) Eivimate out-od.pocket household spending on heath care in 2007 (b) Debermine the year when spending reached 52724 per household (a) The total expondtures per household in the year 2007 were appronimately 1 (Rlound to the nearest dollar as needed.)
Expert Answer
(a) To estimate out-of-pocket household spending on health care in 2007, we need to evaluate the function f(x) at x = 4 since x = 0 corresponds to 2003 and we want to know the spending in 2007. Therefore, we have: So the estimated out-of-pocket household spending on health care in 2007 is $1,032,400.