Problema Solution
Bar graph shows the average cost of family health insurance from 2000-2011. In 2008 the average cost was 12,680. The data can be modeled by
f(x)=782(x)+6564 and g(x)=6875e^0.077x.
a. According to the linear model, what is the average cost of a family health plan in 2008.
b. According to the exponential model, what was the average cost of a family health plan in 2008.
which was the better model for the data in 2008. (bar graph, linear, or exponential)
Answer provided by our tutors
a. According to the linear model, what is the average cost of a family health plan in 2008
x = 8
f(8) = 782*8 + 6564
f(8) = $12,820
b. According to the exponential model, what was the average cost of a family health plan in 2008
x = 8
e = 2.71828
g(8) = 6875e^(0.077*8)
g(8) = $12,729.11
click here to see the step by step calculation
12,820 - 12,680 = 140
12,729.11 - 12,680 = 49.11
49.11 < 140
the exponential model is better mode than the linear model.