1. Identify what they are given and what they need to find; 2. Identify the type...

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1. Identify what they are given and what they need to find;
2. Identify the type of problem they have been given and thetools necessary to solve the problem;
3. Correctly apply the tools to the information given to set upthe problem;
4. Perform mathematically correct calculations to determine asolution;
5. Interpret their results in terms of the original problem.
Use the internet and find the Medicare expenditures in the year2000 and the Medicare expenditures in 2015. Use the exponentialgrowth function and develop a model. Let t = 0 in the year 2000. Ifthe model remains accurate, estimate Medicare expenditures for theyear 2017.

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The Medicare expenditures in USA in the years 2000 and 2015 were 2062 billion and 5523 billion respectively which indicate an exponential growth Let the exponential growth model for the Medicare expenditure Mt say be Mt abt where See Answer

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