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What’s Your Issue? Cost of Medical Care vs. Average Salaries

What’s Your Issue? Cost of Medical Care vs. Average Salaries. Jonathan Kuc. Cost of Medical Care vs. Average Salary. ( 2012). Health Care Costs: A Primer. In Kaiser Family Foundation . Retrieved from http ://www.kff.org/.

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What’s Your Issue? Cost of Medical Care vs. Average Salaries

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  1. What’s Your Issue?Cost of Medical Care vs. Average Salaries Jonathan Kuc

  2. Cost of Medical Care vs. Average Salary (2012). Health Care Costs: A Primer. In Kaiser Family Foundation. Retrieved from http://www.kff.org/ (2012). National Average Wage Index. In Social Security: The Official Website of the U.S. Social Security Administration. Retrieved from http://www.ssa.gov/

  3. Cost of Medical Care vs. Average Salary (2012). Health Care Costs: A Primer. In Kaiser Family Foundation. Retrieved from http://www.kff.org/

  4. Cost of Medical Care vs. Average Salary Piecewise Function: f(x)={32921<x<34064 36952<x<40711}

  5. Average Salaries Projected 5 Years (2012). National Average Wage Index. In Social Security: The Official Website of the U.S. Social Security Administration. Retrieved from http://www.ssa.gov/

  6. Average Salaries Projected 5 Years Equation of Trend Line: y=8557/9x-1869401.556

  7. Average Salaries Projected 5 Years Trend Line Work: Points on Line=(2000, 32154) (2009,40711) Slope Intercept Form= (40711-32154)/(2009-2000) = 8557/9 32154=85557/9(2000)+b y=8557/9x-y=8557/9x-1869401.556

  8. Cost of Medical Care Projected 5 Years (2012). Health Care Costs: A Primer. In Kaiser Family Foundation. Retrieved from http://www.kff.org/

  9. Cost of Medical Care Projected 5 Years Equation of Trend Line: y=3271/9x-722010.888

  10. Cost of Medical CareProjected 5 Years Trend Line Work: Points on Line=(2000, 32154) (2009,40711) Slope Intercept Form= (40711-32154)/(2009-2000) = 8557/9 32154=85557/9(2000)+b y=8557/9x-1869401.888

  11. Quadratic A Function 1)Three Points: (34064,6114) (33252,5687) (32921,5241) 2a) Vertex Form: Vertex Point: (34064,6114) | Other Point: (33252,5687) i. f(x)=a(x-34064)2+6114 ii. 5687=a(33252-34064)2+6114 iii. -427=659344a iv. a=-0.00065 v. f(x)=-0.00065(x-34064)2+6114

  12. Quadratic A Function 2a) General Form: • f(x)=-0.00065(x-34064)2+6114 • -0.00065(x-34064) (x-34064) +6114 • -0.00065(x2-68128x+1160356096)+6114 • -0.00065x2+44.2832x-754231.4624+6114 • f(x)= -0.00065x2+44.2832x-748117.4624 2b) f(x)=a(x-h)2+k i) The f(x) and x in the vertex form are the x and y coordinates of one of the three points were chosen. ii)The h and k in the vertex form are the x and y coordinates of another one of the three points chosen such as (34064, 6114). iii)The a is the leading coefficient that determines concavity.

  13. Quadratic A Function 2c) The concavity of this graph is down because the leading coefficient is a negative number. Also, on the actual graph the parabola is facing downwards. 2d) Maximum Point (34064,6114) 2e) –(44.2832)/ 2(-0.00065) = 34064 2f) i. f(x)=-0.00065(34064) 2+44.2832(34064)-748117.4624 ii. 6114 iii. (34064,6114) 2g) X Intercept X= {30997.05464, 37130.94536} 30997.05464 37130.94536

  14. Quadratic A Function 2g) Y Intercept i. f(x)=-0.00065x2+44.2832x-748117.4624 ii. f(x)=-0.00065(0)2+44.2832(0)-748117.4624 iii. f(x)=-748117.4624 Y={-748117.4624 } 2h) f(x)=ax2+bx+c i) The ax2is the quadratic part of the equation. ii)The bx is the linear part of the equation. iii)The c is the constant of the equation. 2i) No solutions can be found through grouping or reverse foil because there are three terms and the leading coefficient is a number that will not allow for solutions to be found.

  15. Quadratic A Function 2j) X Intercept X= {30997.05464, 37130.94536} 2j) There are two real solutions which are 30997.05464 and 37130.94536. 2l) The solutions are real because they came from a quadratic that have a positive number under the radical which means that it real. Also, if the lines on the graph were extended then they would hit the x axis at one point. Overall, there is no “I” in the two solutions, which means that these solutions are real. 30997.05464 37130.94536

  16. Quadratic A Function 2n) i. 5241=-0.00065(32921) 2+44.832(32921)-748117.4624 ii. 5241=-704464.9567+1457847.227-748117.4624 iii. 5241=5241 3a) The effect on my data would be: -The parabola flips my data making the actual parabola open up opposed to opening down: -This would happen because the costs would start out high and then gradually as the income increases the prices lower until they hit a point where they are affordable but stop decreasing -Then, the prices would continue to increase as the incomes increase

  17. Quadratic A Function 3b) The effect on my data would be: -The parabola shifts down several units: -This can be caused by the medical services essentially becoming free to everyone so there would be no cost for it -Also, the cost decreased and the costs cannot go into the negative numbers because it is unreasonable to have a negative cost.

  18. Quadratic B Function 1)Three Points: (38651,7251) (40405,7628) (40711,8149) 2a) Vertex Form: Vertex Point: (38651,7251) | Other Point: (40405,7628) i. f(x)=a(x-38651)2+7251 ii. 7628=a(40405-34064)2+6114 iii. 377=3076516a iv. a=0.00012 v. f(x)=0.00012(x-38651)2+7251

  19. Quadratic B Function 2a) General Form: • f(x)=0.00012(x-38651)2+7251 • 0.00012(x-38651)(x-38651) +7251 • 0.00012(x2-77302x+1493899801)+7251 • 0.00012x2-9.27624x+179267.9761+7251 • f(x)= 0.00012x2-9.27624x+186518.97612 2b) f(x)=a(x-h)2+k i) The f(x) and x in the vertex form are the x and y coordinates of one of the three points were chosen. ii)The h and k in the vertex form are the x and y coordinates of another one of the three points chosen such as (38651, 7251). iii)The a is the leading coefficient that determines concavity.

  20. Quadratic B Function 2c) The concavity of this graph is up because the leading coefficient is a positive number. Also, on the actual graph the parabola is facing upwards. 2d) Minimum Point (38651,7251) 2e) –(-9.27624)/ 2(0.00012) = 38651 2f) i. f(x)=0.00012(38651) 2-9.27624(38651) +186518.97612 ii. 7251 iii. (38651,7251) 2g) X Intercept X= {46424.35192i, 30877.64808i} 46424.35192i 30877.64808i

  21. Quadratic B Function 2g) Y Intercept i. f(x)= 0.00012x2-9.27624x+186518.97612 ii. f(x)=0.00012(0)2-9.27624(0) +186518.97612 iii. f(x)=186518.97612 Y={186518.97612} 2h) f(x)=ax2+bx+c i) The ax2is the quadratic part of the equation. ii)The bx is the linear part of the equation. iii)The c is the constant of the equation. 2i) No solutions can be found through grouping or reverse foil because there are three terms and the leading coefficient is a number that will not allow for solutions to be found.

  22. Quadratic B Function 2j) X Intercept X= {46424.35192i, 30877.64808i} 2j) There are no real solutions but there are two imaginary solutions that are 30997.05464 and 37130.94536. 2l) The solutions are imaginary because they came from a quadratic that have a negative number under the radical which means that it is imaginary. Also, if the lines on the graph were extended then they would never hit the x axis. Overall, there is an “I” in the two solutions, which means that these solutions are imaginary. 46424.35192i 30877.64808i

  23. Quadratic B Function 2n) i. 8149=0.00012(40711) 2-9.27624(40711)+186518.97612 ii. 8149198886.2625-377645.0066+186518.97612 iii. 8149=8149 3a) The effect on my data would be: -Make parabola a little more narrow and shift down a few units: -This could be caused by the costs starting out very high -But as the incomes rose the price dropped at a significant rate until it was affordable for a short while -However, the cost increased at a quick rate after a little while because of the incomes rising again.

  24. Quadratic B Function 3b) The effect on my parabola would be: -The parabola would be shifted down several units: -This could be caused by the cost of medical care started up high -But as the incomes increased the medical care became free at some point -Although it was free briefly, the prices continued to increase after a little while and the incomes increased as well

  25. Data Comparison 4a) Equation of Trend Line: y=1.247/3x-48253/10000 General Form: f(x)=-0.01074074074x2+0.46937037037x+4.78237037037 Vertex Form: -0.01074074074(x-21.8500000015)2-0.34550092627 (2012). Health Care Costs: A Primer. In Kaiser Family Foundation. Retrieved from http://www.kff.org/

  26. Data Comparison Trend Line Work: Points on Line=(1, 5.241) (4,6.488) Slope Intercept Form= (6.488-5.241)/(4-1) = 1.247/3 5.241= 1.247/3(1)+b y=1.247/3x+4.8253 General Form: 1)Three Points: (38651,7251) (40405,7628) (40711,8149) Continued…

  27. Data Comparison General Form: • 5.241=a(1)2+b(1)+c  5.241=1a+1b+c • 6.488=a(4) 2+b(4)+c  6.488=16a+4b+c • 8.402=a(10) 2+b(10)+c  8.402=100a+10b+c a=-0.01074074074 b=0.46937037037 c=4.78237037037 f(x)=-0.01074074074x2+0.46937037037x+4.78237037037 Vertex Form: i. f(x)=-0.01074074074x2+0.46937037037x+4.78237037037 • 0.01074074074(x2-43.700000003x+477.422500066)-0.34550092627 • -0.01074074074(x-21.8500000015)2-0.34550092627

  28. Data Comparison 4b)There are a few differences and similarities in the equation of the trend lines of section 3 and section 4:-All the lines have a positive slope on the trend line-Trend lines also all points in the same direction-However, the graphs had different values for the slopes and for the y intercepts. Reasons for similarities: -The direction of the trend line are as a result of the positive correlation of the dataReasons for differences: -The x and y values are different, which is the reason for the different slopes-Different y intercepts are a result of each graph having different x values such as years and years after 1960

  29. Abstract • The cost of medical care has been growing at a quicker rate than the average incomes of people. • The process in which the data for average salaries and cost of medical was acquired was through several trusted and reliable websites such as Social Security and Kaiser Family Foundation’s website. • It appears that the rate at which incomes are rising and the cost of medical care is rising at a very quick rate. The cost appears to be rising much quicker than the annual incomes of people. • As a result, people must pay a higher percentage of their income for medical care, leading to a number of negative effects.

  30. Causes of Issue Causes: • Cost of medical care is growing quickly every year because of the increasing costs of medication and the new advance technology in hospitals. • Incomes are growing at slower rate than medical care and this will cause families to not be able to keep up with the costs of medical care making it unaffordable for them. • Many people are turning away from medical care and turning towards cheap alternatives like home remedies.

  31. Effects of Issue Effects: • Decrease in the amount of people that purchase health care because it would create a financial burden for them. • Families less likely to spend money on medical care because a limited budget might only allow for necessities in life like food and clothes. • Companies are raising prices to make up for all the money they lost from customers who left.

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