Loans There may be many times in your life in which you will need to borrow money: paying for college, buying a car, buying a home, improving a home, paying for a wedding, etc. When borrowing money, you are charged interest given as an annual percentage rate (APR). While the interest is given as an annual rate, you are usually asked to make fixed monthly payments on the loan over a predetermined period of time. We can use Excel to determine what the monthly payments will be, how much you will pay back total, and how much interest will be paid. For example: Borrow $10,000 at 6% APR to be paid back in 10 years. Use the fx icon near the formula bar in Excel. Under the category drop down menu, choose financial, then for function, choose PMT. A box will appear. Enter the Rate (interest rate for the time period) the APR (as a decimal) divided by 12. Enter the NPer (total number of payments) total number of months = number of years times 12 Enter Pv (present value) loan amount, enter as a negative number with no commas For above example: Rate = .06/12 Nper = 10*12 Pv = -10000 Monthly payment $111.02 To calculate the total amount paid back over the course of the loan, multiply the monthly payment by the total number of payments. 111.02*120 = $13,322.40 To calculate the amount of interest paid over the course of the loan, subtract the loan amount from the total amount paid. $13,322.40-$10000 = $3,322.40 Changing the interest rate and the time given to pay back the loan can have a drastic effect on the total amount paid back. For example, if the APR in the above example had been 8.5% instead of 6%, the monthly payment would be $102.84 and the total paid back would be $14,878.80 and the interest would be $4,878.80 which is $1,556.40 more than our original example. A lower interest rate will always save you money. If we paid back the loan in 20 years instead of 10 with an APR of 6%, the monthly payment would be $71.64 but the total paid back would be $17,193.60 and the total interest paid would be $7,193.60 which is almost $3871.20 more than the original amount. In this example the interest paid more than doubles. Increasing the length of the loan decreases the monthly payment but increases the total amount paid. Choose the shortest time period that you can afford. Also, if you pay more than the mandated monthly payment, you can shorten the time it will take to pay back the loan as well as decrease the total amount paid back. (Some banks will charge a penalty fee if the loan is paid back too quickly.) One benefit of home loans (mortgages and most home equity loans) is that the interest that you pay is tax deductible. If you must have debt, a loan with tax deductible income is better than other debt (ie. Credit card debt). Final Exam Math 110Review \"Of all the forms of inequality, injustice in health care is the most shocking and most inhumane.\" Martin Luther King Jr. March 25, 1966, National Convention of the Medical Committee for Human Rights, Chicago "The first wealth is health." Ralph Waldo Emerson The passage of and the debate surrounding the Affordable Care Act has brought the nation's access to health care to the forefront. Let's use this exam to examine issues related to health, health care, and health insurance in this country before the ACA went into effect. The questions in red are guiding questions as we explore the data; they do not need to be answered explicitly. Who is not covered by health insurance? 1. Open the Uninsured tab, which contains the number of people in each state who are without health insurance coverage in 2011 and the state populations. a. In column D, calculate the percent of each state's population that is without health insurance coverage. Which state had the highest percent uninsured? Which state had the lowest? Give state names and their percents. b. Look at the 5 states with highest percent uninsured. Do all of those states also have high numbers of people without insurance? How is it possible for a state with a high percent to have a low number? Give an example and explain. c. Using the maptool, which is linked at the top of the Uninsured excel page, make a map of the percent for each state. Paste your map here. d. Describe any geographical trends of uninsured seen on the map. Mention any outliers. e. Return to the data. Calculate the percent of the total US population that was without health insurance coverage in 2011. f. The number of people uninsured in the US increased by 12% from 2007 to 2011. Using this fact and the total number uninsured in 2011 found in part e, calculate the total number uninsured in 2007. 2. The number of uninsured children has been increasing as well. In 2005, 8 million children did not have health insurance coverage. From 2005 and 2006, that number increased by 8.75%. a. How many uninsured children were there in 2006? b. If the number were to increase by 8.75% per year, how many uninsured children would there be in 2015? 3. Open the Health Care Coverage tab. To make the following graphs, you may need/want to do some calculations with the data first. a. Make a single graph to answer this question: In 2009 what percent of all males were not covered by insurance and what percent of all females were not covered by insurance? Paste the graph here and answer the question in a sentence. b. Make a different single graph to answer this question: In 2009 what percent of all uninsured people were female and what percent were male? Paste the graph here and answer the question in a sentence. c. Make an appropriate graph from the data examining any of the other characteristics. Write a sentence or two explaining what the graph tells you about the topic. \"From this graph, I learned that...\" What are some of the health risks Americans face? 4. According to the American Cancer Society, the number of deaths due to cancer in 2000 was 552,200 and in 2010 it was 569,490. a. Using the two data points given above, calculate the linear rate of change (slope) and explain the meaning of this rate of change. (do not make a graph for thisit won't work; you need to calculate the rate of change yourself) b. Write the linear equation for this function and define your variables (explain what x and y represent in this equation). c. According to your equation, how many deaths due to cancer will there be in 2016? d. The population of the US was 291,421,906 in 2000 and 308,745,538 in 2010. Using the number of deaths given above and these population figures, calculate the cancer death rate in number of deaths per 100,000 people for each of the years. e. Did the risk of dying of cancer increase or decrease from 2000 to 2010? How much are Americans spending on health care? 5. In 2007 national health spending reached $2.2 trillion and military spending was $630 billion. a. The amount spent on health care is how many times larger than the amount spent on the military? (trillion = 1012 and billion=109) b. If the total health spending was $2.2 trillion and spending per person was $7421, what was the population of the country that year? 6. Eating healthful foods can decrease our health related problems and subsequently our health care costs. But how might cost affect our choices? Carrots cost $.38 per pound in 1988 and $.79 per pound in 2008. Frozen French fries were $.70 per pound in 1988 and $.98 per pound in 2008. a. Open the CPI tab. Convert the 1988 price of carrots to 2008 constant dollars and convert the 1988 price of frozen French fries to 2008 constant dollars. b. Did carrots get more expensive or less expensive between 1988 and 2008? Did French fries get more expensive or less expensive? 7. Open the Insurance Spending tab, which contains the average annual spending on health insurance per person in the US. a. According to this data, has actual spending for insurance increased over the years? b. Does this guarantee that paying for health insurance \"felt more expensive\" over the years? Why or why not? c. Using the data in this file and the CPI values from the CPI tab, convert the spending per person to 2009 constant dollars. Make a graph of the years and the spending in 2009 constant dollars. Paste the graph here. d. Name a 5 year period during which actual health insurance spending grew at a rate roughly equal to the inflation rate for those years. Can you afford to have a baby? 8. Though this figure can vary widely, the cost of having a baby (including pre-natal visits, ultrasounds, and hospital stay) is around $20,000. Suppose you have no health insurance and need to take out a loan for $20,000 to pay for a pregnancy and birth. The loan has a 6.75% APR and will be paid off in 5 years. a. What is your monthly payment for the loan? b. What is the total paid back over the course of this loan? c. What is the total interest paid on the loan? d. The total paid back is what percent larger than the loan amount? So has all this spending on health care allowed us to live longer? 9. Open the Life Expectancy tab. This file contains average life expectancy (age at death) for US citizens for the years 1960 to 2011. a. Make a scatter graph with trendline equation and R2 value of the life expectancy. Copy and paste the graph here. b. Using the trendline equation, predict the life expectancy in 2017. How much confidence do you have in this prediction? Why? c. Using the trendline equation, in what year will the life expectancy be 100 years? How much confidence do you have in this prediction? Why? Final Exam Math 110Review Answers 1. Open the Uninsured tab, which contains the number of people in each state who are without health insurance coverage in 2011 and the state populations. a. In column D, calculate the percent of each state's population that is without health insurance coverage. Which state had the highest percent uninsured? Which state had the lowest? Give state names and their percents. Texas 24.1% = highest, Massachusetts 4% = lowest b. Look at the 5 states with highest percent uninsured. Do all of those states also have high numbers of people without insurance? How is it possible for atate with a high percent to have a low number? Give an example and explain. No, some of the states with high percents have high numbers and some have low. For example, New Mexico has the 3rd highest percent but only a medium number of uninsured. This is possible because New Mexico has a small total population, so even a medium number uninsured results in a very large percent. c. Using the maptool, which is linked at the top of the Uninsured excel page, make a map of the percent for each state. Paste your map here. d. Describe any geographical trends of uninsured seen on the map. Mention any outliers. Southern states, with the exception of Alabama, have high percents uninsured. The Midewest states, with the exception of Illinois, have low percents. e. Return to the data. Calculate the percent of the total US population that was without health insurance coverage in 2011. 16.1% of the country is without health insurance. f. The number of people uninsured in the US increased by 12% from 2007 to 2011. Using this fact and the total number uninsured in 2011 found in part e, calculate the total number uninsured in 2007. 44,849,573 in 2007 2. The number of uninsured children has been increasing as well. In 2005, 8 million children did not have health insurance coverage. From 2005 and 2006, that number increased by 8.75%. a. How many uninsured children were there in 2006? 8.7 million b. If the number continues to increase by 8.75% per year, how many uninsured children will there be in 2015? 18.509 million 3. Open the Health Care Coverage tab. To make the following graphs, you may need/want to do some calculations with the data. a. Make a single graph to answer this question: In 2009 what percent of all males were not covered by insurance and what percent of all females were not covered by insurance? Paste the graph here and answer the question in a sentence. 18.4% of males are uninsured and 15.0% of females. Uninsured by Gender 2009 20.0% 15.0% Percent uninsured 10.0% 5.0% 0.0% Male Female Gender b. Make a different single graph to answer this question: In 2009 what percent of all uninsured people were female and what percent were male? Paste the graph here and answer the question in a sentence. 46% of the uninsured in the US are female and 54% are male. Uninsured 2009 Female ; 46% Male; 54% c. Make an appropriate graph from the data examining any of the other characteristics. Write a sentence or two explaining what the graph tells you about the topic. \"From this graph, I learned that...\" Uninsured by Household Income Percent Uninsured 30.0% 25.0% 20.0% 15.0% 10.0% 5.0% 0.0% Household Income The higher the household income, the lower the percent uninsured. OR Percent Uninsured by Race 2009 35.0% 30.0% 25.0% 20.0% Percent Uninsured 15.0% 10.0% 5.0% 0.0% White Black Asian Hispanic Race Hispanics have the highest percent uninsured at 32% and whites have the lowest at 12%. OR this is an ok graph, but the % graph above is better. Uninsured by Race 2009 Hispanic; 31% White; 48% Asian; 5% Black; 16% Whites make up almost half of the uninsured in this country. Hispanic account for almost 1/3 which is surprising because they are not 1/3 of the total population. 4. According to the American Cancer Society, the number of deaths due to cancer in 2000 was 552,200 and in 2010 it was 569,490. a. Using the two data points given above, calculate the linear rate of change (slope) and explain the meaning of this rate of change. (do not make a graph for this; you need to calculate the rate of change yourself) The rate of change is 1729. Each year the number of cancer deaths increased by 1729 deaths. b. Write the linear equation for this function and define your variables (explain what x and y represent in this equation). Y = 1729x + 552200 x is years since 2000 and y is number of cancer deaths c. According to your equation, how many deaths due to cancer will there be in 2016? 579,864 deaths in 2016 d. The population of the US was 291,421,906 in 2000 and 308,745,538 in 2010. Using the number of deaths given above and these population figures, calculate the cancer death rate in number of deaths per 100,000 people for each of the years. In 2000 the death rate was 189.48 deaths per 100,000 people and in 2010 that rate was 184.45. e. Did the risk of dying of cancer increase or decrease from 2000 to 2010? The risk of dying decreased. 5. In 2007 national health spending reached $2.2 trillion and military spending was $630 billion. a. The amount spent on health care is how many times larger than the amount spent on the military? (trillion = 1012 and billion=109) 3.5 times larger. b. If the total health spending was $2.2 trillion and spending per person was $7421, what was the population of the country that year? 296,456,003 6. Eating healthful foods can decrease our health related problems and subsequently our health care costs. But how might cost affect our choices? Carrots cost $.38 per pound in 1988 and $.79 per pound in 2008. Frozen French fries were $.70 per pound in 1988 and $.98 per pound in 2008. a. Open the CPI tab. Convert the 1988 price of carrots to 2008 constant dollars and convert the 1988 price of frozen French fries to 2008 constant dollars. In 2008 constant dollars, carrots are $.69 per pound and French fries are $.1.27 per pound. b. Did carrots get more expensive or less expensive between 1988 and 2008? Did French fries get more expensive or less expensive? Carrots got more expensive and French fries got less expensive. 7. Open the Insurance Spending tab, which contains the average annual spending on health insurance per person in the US. a. According to this data, has actual spending for insurance increased over the years? Yes, actual spending has increased every year. b. Does this guarantee that paying for health insurance \"felt more expensive\" over the years? Why or why not? No, it does not guarantee. The cost of living increased so the cost of insurance is expected to increase. c. Using the data in this file and the CPI values from the CPI tab, convert the spending per person to 2009 constant dollars. Make a graph of the years and the spending in 2004 constant dollars. Paste the graph here. Insurance costs per person in 2009 constant dollars $1,900.00 $1,700.00 $1,500.00 $1,300.00 cost $1,100.00 $900.00 $700.00 $500.00 1985 1990 1995 2000 2005 2010 2015 year d. Name a 5 year period during which actual health insurance spending grew at a rate roughly equal to the inflation rate for those years. 1993-1999 8. Though this figure can vary widely, the cost of having a baby (including pre-natal visits, ultrasounds, and hospital stay) is around $20,000. Suppose you have no health insurance and need to take out a loan for $20,000 to pay for a pregnancy and birth. The loan has a 6.75% APR and will be paid off in 5 years. a. What is your monthly payment for the loan? $393.67 b. What is the total paid back over the course of this loan? $23,620.15 c. What is the total interest paid on the loan? $3620.15 d. The total paid back is what percent larger than the original loan amount? 18.1% 9. Open the Life Expectancy tab. This file contains average life expectancy (age at death) for US citizens for the years 1960 to 2011 a. Make a scatter graph with trendline equation and R 2 value of the life expectancy. Copy and paste the graph here. Life Expectancy 80.0 75.0 f(x) = 0.18x - 273.87 R = 0.99 life expectancy in years 70.0 65.0 1950 1960 1970 1980 1990 2000 2010 2020 year b. Using the trendline equation, predict the life expectancy in 2017. How much confidence do you have in this prediction? Why? According to the trendline, in 2017 life expectancy will be 79.7 years. I have high confidence in this prediction since the R2 value is very high and 2016 is only 6 years from the data. c. Using the trendline equation, in what year will the life expectancy be 100 years? How much confidence do you have in this prediction? Why? According to the trendline, in 2133 life expectancy in the US will be 100 years. I have low to medium confidence. While the R2 value is very high, 2133 is over 100 years from the data and I doubt that there will be a time when most people live to be 100 years old. Use this sheet for calculations See tabs at bottom for other data Persons Without Health Insurance Coverage by State: 2011 Maptool State Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware District of Columbia Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming source: StateHealthFacts.org Population 4,802,740 722,718 6,482,505 2,937,979 37,691,912 5,116,769 3,580,709 907,135 617,996 19,057,542 9,815,210 1,374,810 1,584,985 12,869,257 6,516,922 3,062,309 2,871,238 4,369,356 4,574,836 1,328,188 5,828,289 6,587,536 9,876,187 5,344,861 2,978,512 6,010,688 998,199 1,842,641 2,723,322 1,318,194 8,821,155 2,082,224 19,465,197 9,656,401 683,932 11,544,951 3,791,508 3,871,859 12,742,886 1,051,302 4,679,230 824,082 6,403,353 25,674,681 2,817,222 626,431 8,096,604 6,830,038 1,855,364 5,711,767 568,158 Uninsured 672,384 130,089 1,166,851 528,836 7,538,382 716,348 358,071 99,785 67,980 3,811,508 1,963,042 109,985 285,297 1,930,389 847,200 336,854 373,261 655,403 914,967 132,819 757,678 263,501 1,283,904 481,037 565,917 841,496 179,676 239,543 599,131 145,001 1,411,385 437,267 2,725,128 1,641,588 75,233 1,616,293 644,556 580,779 1,401,717 126,156 935,846 107,131 896,469 6,161,923 394,411 56,379 1,133,525 956,205 259,751 571,177 102,268 Health Insurance Coverage Status : 2009 Total persons 304,280,000 Covered by private or government health insurance 253,606,000 Not covered by health insurance 50,674,000 149,485,000 154,795,000 122,022,000 131,584,000 27,463,000 23,211,000 Race: White Black Asian Hispanic 202,744,000 38,624,000 14,011,000 48,901,000 178,401,000 30,522,000 11,602,000 33,081,000 24,343,000 8,102,000 2,409,000 15,820,000 Household income: Less than $25,000 $25,000-$49,999 $50,000-$74,999 $75,000 or more 58,159,000 71,340,000 58,381,000 116,400,000 42,675,000 56,062,000 49,029,000 105,839,000 15,483,000 15,278,000 9,352,000 10,561,000 Characteristic Total Gender: Male Female Consumer Price Index Source: Bureau of Labor Statistics (www.bls.gov) Year 1970 1971 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 CPI 38.8 40.5 41.8 44.4 49.3 53.8 56.9 60.6 65.2 72.6 82.4 90.9 96.5 99.6 103.9 107.6 109.6 113.6 118.3 124.0 130.7 136.2 140.3 144.5 148.2 152.4 156.9 160.5 163.0 166.6 172.2 177.1 179.9 184.0 188.9 195.3 201.6 207.3 215.3 214.5 218.1 224.9 229.6 Average Annual Spending on Health Insurance per Person year 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 Insurance Costs per person $ 581 $ 656 $ 725 $ 800 $ 815 $ 840 $ 841 $ 881 $ 913 $ 923 $ 983 $ 1,061 $ 1,168 $ 1,252 $ 1,332 $ 1,361 $ 1,465 $ 1,545 $ 1,653 $ 1,785 Average Life Expectancy in the US Year Life Expectancy in years 1960 1970 1975 1980 1985 1990 1995 2000 2002 2004 2005 2006 2007 2008 2009 2010 2011 69.7 70.8 72.6 73.7 74.7 75.4 75.8 76.8 76.9 77.5 77.4 77.7 77.9 77.8 78.5 78.7 79.0 Use this sheet for calculations See tabs at bottom for data files 8 8.700 9.461 10.289 11.189 12.168 13.233 14.391 15.650 17.020 18.509 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2000 was 552,200 and in 2010 it was 569,490. 1729.0 579864 291,421,906 in 2000 and 308,745,538 in 2010. 189.485 184.453 1.83 95.2381 28.43862 $393.67 $23,620.15 $3,620.15 18.1% Persons Without Health Insurance Coverage by State: 2011 Maptool State Texas Nevada New Mexico Georgia South Carolina California Florida Louisiana Mississippi Montana Arizona Arkansas Idaho Alaska Wyoming North Carolina Oklahoma New Jersey Oregon Illinois Kentucky Alabama Colorado Virginia New York West Virginia Ohio Utah Washington Missouri Tennessee South Dakota Maryland Indiana Kansas Michigan Nebraska Rhode Island District of Columbia North Dakota Delaware Iowa Pennsylvania New Hampshire Maine Wisconsin Connecticut Vermont Minnesota Hawaii Massachusetts Population Uninsured 25,674,681 2,723,322 2,082,224 9,815,210 4,679,230 37,691,912 19,057,542 4,574,836 2,978,512 998,199 6,482,505 2,937,979 1,584,985 722,718 568,158 9,656,401 3,791,508 8,821,155 3,871,859 12,869,257 4,369,356 4,802,740 5,116,769 8,096,604 19,465,197 1,855,364 11,544,951 2,817,222 6,830,038 6,010,688 6,403,353 824,082 5,828,289 6,516,922 2,871,238 9,876,187 1,842,641 1,051,302 617,996 683,932 907,135 3,062,309 12,742,886 1,318,194 1,328,188 5,711,767 3,580,709 626,431 5,344,861 1,374,810 6,587,536 6,161,923 599,131 437,267 1,963,042 935,846 7,538,382 3,811,508 914,967 565,917 179,676 1,166,851 528,836 285,297 130,089 102,268 1,641,588 644,556 1,411,385 580,779 1,930,389 655,403 672,384 716,348 1,133,525 2,725,128 259,751 1,616,293 394,411 956,205 841,496 896,469 107,131 757,678 847,200 373,261 1,283,904 239,543 126,156 67,980 75,233 99,785 336,854 1,401,717 145,001 132,819 571,177 358,071 56,379 481,037 109,985 263,501 311,591,890 50,231,522 24% 22% 21% 20% 20% 20% 20% 20% 19% 18% 18% 18% 18% 18% 18% 17% 17% 16% 15% 15% 15% 14% 14% 14% 14% 14% 14% 14% 14% 14% 14% 13% 13% 13% 13% 13% 13% 12% 11% 11% 11% 11% 11% 11% 10% 10% 10% 9% 9% 8% 4% 16% 44203739.36 source: StateHealthFacts.org 44,849,573 Health Insurance Coverage Status : 2009 Total persons 304,280,000 Covered by private or government health insurance 253,606,000 Not covered by health insurance 50,674,000 149,485,000 154,795,000 122,022,000 131,584,000 27,463,000 23,211,000 Race: White Black Asian Hispanic 202,744,000 38,624,000 14,011,000 48,901,000 178,401,000 30,522,000 11,602,000 33,081,000 24,343,000 8,102,000 2,409,000 15,820,000 Household income: Less than $25,000 $25,000-$49,999 $50,000-$74,999 $75,000 or more 58,159,000 71,340,000 58,381,000 116,400,000 42,675,000 56,062,000 49,029,000 105,839,000 15,483,000 15,278,000 9,352,000 10,561,000 Characteristic Total Gender: Male Female Consumer Price Index Source: Bureau of Labor Statistics (www.bls.gov) Year 1970 1971 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 CPI 38.8 40.5 41.8 44.4 49.3 53.8 56.9 60.6 65.2 72.6 82.4 90.9 96.5 99.6 103.9 107.6 109.6 113.6 118.3 124.0 130.7 136.2 140.3 144.5 148.2 152.4 156.9 160.5 163.0 166.6 172.2 177.1 179.9 184.0 188.9 195.3 201.6 207.3 215.3 214.5 218.1 224.9 Average Annual Spending on Health Insurance per Person 130.7 $ 953.52 136.2 $ 1,033.13 140.3 $ 1,108.43 Insurance costs per person in 2009 constant dollars 144.5 $ 1,187.54 $2,000.00 148.2 $ 1,179.61 $1,800.00 152.4 $ 1,182.28 $1,600.00 156.9 $ 1,149.74 $1,400.00 160.5 $ 1,177.41 163.0 $ 1,201.46 166.6 $ 1,188.38 cost year 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 Insurance Costs per person $ 581 $ 656 $ 725 $ 800 $ 815 $ 840 $ 841 $ 881 $ 913 $ 923 $ 983 $ 1,061 $ 1,168 $ 1,252 $ 1,332 $ 1,361 $ 1,465 $ 1,545 $ 1,653 $ 1,785 $1,200.00 $1,000.00 $800.00 $600.00 172.2 $ 1,224.47 $400.00 177.1 $ 1,285.06 $200.00 179.9 $ 1,392.64 184.0 $ 1,459.53 188.9 $ 1,512.51 195.3 $ 1,494.80 201.6 $ 1,558.74 207.3 $ 1,598.66 215.3 $ 1,646.86 214.5 $ 1,785.00 $1985 1990 1995 year 2000 2005 2010 2015 Average Life Expectancy in the US Life Expectancy in years 1960 1970 1975 1980 1985 1990 1995 2000 2002 2004 2005 2006 2007 2008 2009 2010 2011 69.7 70.8 72.6 73.7 74.7 75.4 75.8 76.8 76.9 77.5 77.4 77.7 77.9 77.8 78.5 78.7 79.0 79.7 2133 lif e e xpe c tanc y in ye ars Year Life Expectancy 80.0 78.0 76.0 f(x) = 0.1753329971x - 273.874662553 R = 0.9868492047 74.0 72.0 70.0 68.0 66.0 64.0 1950 1960 1970 1980 ye ar 1990 2000 2010 2020 Final Exam Math 110Review \"Of all the forms of inequality, injustice in health care is the most shocking and most inhumane.\" Martin Luther King Jr. March 25, 1966, National Convention of the Medical Committee for Human Rights, Chicago "The first wealth is health." Ralph Waldo Emerson The passage of and the debate surrounding the Affordable Care Act has brought the nation's access to health care to the forefront. Let's use this exam to examine issues related to health, health care, and health insurance in this country before the ACA went into effect. The questions in red are guiding questions as we explore the data; they do not need to be answered explicitly. Who is not covered by health insurance? 1. Open the Uninsured tab, which contains the number of people in each state who are without health insurance coverage in 2011 and the state populations. a. In column D, calculate the percent of each state's population that is without health insurance coverage. Which state had the highest percent uninsured? Which state had the lowest? Give state names and their percents. b. Look at the 5 states with highest percent uninsured. Do all of those states also have high numbers of people without insurance? How is it possible for a state with a high percent to have a low number? Give an example and explain. c. Using the maptool, which is linked at the top of the Uninsured excel page, make a map of the percent for each state. Paste your map here. d. Describe any geographical trends of uninsured seen on the map. Mention any outliers. e. Return to the data. Calculate the percent of the total US population that was without health insurance coverage in 2011. f. The number of people uninsured in the US increased by 12% from 2007 to 2011. Using this fact and the total number uninsured in 2011 found in part e, calculate the total number uninsured in 2007. 2. The number of uninsured children has been increasing as well. In 2005, 8 million children did not have health insurance coverage. From 2005 and 2006, that number increased by 8.75%. a. How many uninsured children were there in 2006? b. If the number were to increase by 8.75% per year, how many uninsured children would there be in 2015? 3. Open the Health Care Coverage tab. To make the following graphs, you may need/want to do some calculations with the data first. a. Make a single graph to answer this question: In 2009 what percent of all males were not covered by insurance and what percent of all females were not covered by insurance? Paste the graph here and answer the question in a sentence. b. Make a different single graph to answer this question: In 2009 what percent of all uninsured people were female and what percent were male? Paste the graph here and answer the question in a sentence. c. Make an appropriate graph from the data examining any of the other characteristics. Write a sentence or two explaining what the graph tells you about the topic. \"From this graph, I learned that...\" What are some of the health risks Americans face? 4. According to the American Cancer Society, the number of deaths due to cancer in 2000 was 552,200 and in 2010 it was 569,490. a. Using the two data points given above, calculate the linear rate of change (slope) and explain the meaning of this rate of change. (do not make a graph for thisit won't work; you need to calculate the rate of change yourself) b. Write the linear equation for this function and define your variables (explain what x and y represent in this equation). c. According to your equation, how many deaths due to cancer will there be in 2016? d. The population of the US was 291,421,906 in 2000 and 308,745,538 in 2010. Using the number of deaths given above and these population figures, calculate the cancer death rate in number of deaths per 100,000 people for each of the years. e. Did the risk of dying of cancer increase or decrease from 2000 to 2010? How much are Americans spending on health care? 5. In 2007 national health spending reached $2.2 trillion and military spending was $630 billion. a. The amount spent on health care is how many times larger than the amount spent on the military? (trillion = 1012 and billion=109) b. If the total health spending was $2.2 trillion and spending per person was $7421, what was the population of the country that year? 6. Eating healthful foods can decrease our health related problems and subsequently our health care costs. But how might cost affect our choices? Carrots cost $.38 per pound in 1988 and $.79 per pound in 2008. Frozen French fries were $.70 per pound in 1988 and $.98 per pound in 2008. a. Open the CPI tab. Convert the 1988 price of carrots to 2008 constant dollars and convert the 1988 price of frozen French fries to 2008 constant dollars. b. Did carrots get more expensive or less expensive between 1988 and 2008? Did French fries get more expensive or less expensive? 7. Open the Insurance Spending tab, which contains the average annual spending on health insurance per person in the US. a. According to this data, has actual spending for insurance increased over the years? b. Does this guarantee that paying for health insurance \"felt more expensive\" over the years? Why or why not? c. Using the data in this file and the CPI values from the CPI tab, convert the spending per person to 2009 constant dollars. Make a graph of the years and the spending in 2009 constant dollars. Paste the graph here. d. Name a 5 year period during which actual health insurance spending grew at a rate roughly equal to the inflation rate for those years. Can you afford to have a baby? 8. Though this figure can vary widely, the cost of having a baby (including pre-natal visits, ultrasounds, and hospital stay) is around $20,000. Suppose you have no health insurance and need to take out a loan for $20,000 to pay for a pregnancy and birth. The loan has a 6.75% APR and will be paid off in 5 years. a. What is your monthly payment for the loan? b. What is the total paid back over the course of this loan? c. What is the total interest paid on the loan? d. The total paid back is what percent larger than the loan amount? So has all this spending on health care allowed us to live longer? 9. Open the Life Expectancy tab. This file contains average life expectancy (age at death) for US citizens for the years 1960 to 2011. a. Make a scatter graph with trendline equation and R2 value of the life expectancy. Copy and paste the graph here. b. Using the trendline equation, predict the life expectancy in 2017. How much confidence do you have in this prediction? Why? c. Using the trendline equation, in what year will the life expectancy be 100 years? How much confidence do you have in this prediction? Why? Final Exam Math 110Review Answers 1. Open the Uninsured tab, which contains the number of people in each state who are without health insurance coverage in 2011 and the state populations. a. In column D, calculate the percent of each state's population that is without health insurance coverage. Which state had the highest percent uninsured? Which state had the lowest? Give state names and their percents. Texas 24.1% = highest, Massachusetts 4% = lowest b. Look at the 5 states with highest percent uninsured. Do all of those states also have high numbers of people without insurance? How is it possible for atate with a high percent to have a low number? Give an example and explain. No, some of the states with high percents have high numbers and some have low. For example, New Mexico has the 3rd highest percent but only a medium number of uninsured. This is possible because New Mexico has a small total population, so even a medium number uninsured results in a very large percent. c. Using the maptool, which is linked at the top of the Uninsured excel page, make a map of the percent for each state. Paste your map here. d. Describe any geographical trends of uninsured seen on the map. Mention any outliers. Southern states, with the exception of Alabama, have high percents uninsured. The Midewest states, with the exception of Illinois, have low percents. e. Return to the data. Calculate the percent of the total US population that was without health insurance coverage in 2011. 16.1% of the country is without health insurance. f. The number of people uninsured in the US increased by 12% from 2007 to 2011. Using this fact and the total number uninsured in 2011 found in part e, calculate the total number uninsured in 2007. 44,849,573 in 2007 2. The number of uninsured children has been increasing as well. In 2005, 8 million children did not have health insurance coverage. From 2005 and 2006, that number increased by 8.75%. a. How many uninsured children were there in 2006? 8.7 million b. If the number continues to increase by 8.75% per year, how many uninsured children will there be in 2015? 18.509 million 3. Open the Health Care Coverage tab. To make the following graphs, you may need/want to do some calculations with the data. a. Make a single graph to answer this question: In 2009 what percent of all males were not covered by insurance and what percent of all females were not covered by insurance? Paste the graph here and answer the question in a sentence. 18.4% of males are uninsured and 15.0% of females. Uninsured by Gender 2009 20.0% 15.0% Percent uninsured 10.0% 5.0% 0.0% Male Female Gender b. Make a different single graph to answer this question: In 2009 what percent of all uninsured people were female and what percent were male? Paste the graph here and answer the question in a sentence. 46% of the uninsured in the US are female and 54% are male. Uninsured 2009 Female ; 46% Male; 54% c. Make an appropriate graph from the data examining any of the other characteristics. Write a sentence or two explaining what the graph tells you about the topic. \"From this graph, I learned that...\" Uninsured by Household Income Percent Uninsured 30.0% 25.0% 20.0% 15.0% 10.0% 5.0% 0.0% Household Income The higher the household income, the lower the percent uninsured. OR Percent Uninsured by Race 2009 35.0% 30.0% 25.0% 20.0% Percent Uninsured 15.0% 10.0% 5.0% 0.0% White Black Asian Hispanic Race Hispanics have the highest percent uninsured at 32% and whites have the lowest at 12%. OR this is an ok graph, but the % graph above is better. Uninsured by Race 2009 Hispanic; 31% White; 48% Asian; 5% Black; 16% Whites make up almost half of the uninsured in this country. Hispanic account for almost 1/3 which is surprising because they are not 1/3 of the total population. 4. According to the American Cancer Society, the number of deaths due to cancer in 2000 was 552,200 and in 2010 it was 569,490. a. Using the two data points given above, calculate the linear rate of change (slope) and explain the meaning of this rate of change. (do not make a graph for this; you need to calculate the rate of change yourself) The rate of change is 1729. Each year the number of cancer deaths increased by 1729 deaths. b. Write the linear equation for this function and define your variables (explain what x and y represent in this equation). Y = 1729x + 552200 x is years since 2000 and y is number of cancer deaths c. According to your equation, how many deaths due to cancer will there be in 2016? 579,864 deaths in 2016 d. The population of the US was 291,421,906 in 2000 and 308,745,538 in 2010. Using the number of deaths given above and these population figures, calculate the cancer death rate in number of deaths per 100,000 people for each of the years. In 2000 the death rate was 189.48 deaths per 100,000 people and in 2010 that rate was 184.45. e. Did the risk of dying of cancer increase or decrease from 2000 to 2010? The risk of dying decreased. 5. In 2007 national health spending reached $2.2 trillion and military spending was $630 billion. a. The amount spent on health care is how many times larger than the amount spent on the military? (trillion = 1012 and billion=109) 3.5 times larger. b. If the total health spending was $2.2 trillion and spending per person was $7421, what was the population of the country that year? 296,456,003 6. Eating healthful foods can decrease our health related problems and subsequently our health care costs. But how might cost affect our choices? Carrots cost $.38 per pound in 1988 and $.79 per pound in 2008. Frozen French fries were $.70 per pound in 1988 and $.98 per pound in 2008. a. Open the CPI tab. Convert the 1988 price of carrots to 2008 constant dollars and convert the 1988 price of frozen French fries to 2008 constant dollars. In 2008 constant dollars, carrots are $.69 per pound and French fries are $.1.27 per pound. b. Did carrots get more expensive or less expensive between 1988 and 2008? Did French fries get more expensive or less expensive? Carrots got more expensive and French fries got less expensive. 7. Open the Insurance Spending tab, which contains the average annual spending on health insurance per person in the US. a. According to this data, has actual spending for insurance increased over the years? Yes, actual spending has increased every year. b. Does this guarantee that paying for health insurance \"felt more expensive\" over the years? Why or why not? No, it does not guarantee. The cost of living increased so the cost of insurance is expected to increase. c. Using the data in this file and the CPI values from the CPI tab, convert the spending per person to 2009 constant dollars. Make a graph of the years and the spending in 2004 constant dollars. Paste the graph here. Insurance costs per person in 2009 constant dollars $1,900.00 $1,700.00 $1,500.00 $1,300.00 cost $1,100.00 $900.00 $700.00 $500.00 1985 1990 1995 2000 2005 2010 2015 year d. Name a 5 year period during which actual health insurance spending grew at a rate roughly equal to the inflation rate for those years. 1993-1999 8. Though this figure can vary widely, the cost of having a baby (including pre-natal visits, ultrasounds, and hospital stay) is around $20,000. Suppose you have no health insurance and need to take out a loan for $20,000 to pay for a pregnancy and birth. The loan has a 6.75% APR and will be paid off in 5 years. a. What is your monthly payment for the loan? $393.67 b. What is the total paid back over the course of this loan? $23,620.15 c. What is the total interest paid on the loan? $3620.15 d. The total paid back is what percent larger than the original loan amount? 18.1% 9. Open the Life Expectancy tab. This file contains average life expectancy (age at death) for US citizens for the years 1960 to 2011 a. Make a scatter graph with trendline equation and R 2 value of the life expectancy. Copy and paste the graph here. Life Expectancy 80.0 75.0 f(x) = 0.18x - 273.87 R = 0.99 life expectancy in years 70.0 65.0 1950 1960 1970 1980 1990 2000 2010 2020 year b. Using the trendline equation, predict the life expectancy in 2017. How much confidence do you have in this prediction? Why? According to the trendline, in 2017 life expectancy will be 79.7 years. I have high confidence in this prediction since the R2 value is very high and 2016 is only 6 years from the data. c. Using the trendline equation, in what year will the life expectancy be 100 years? How much confidence do you have in this prediction? Why? According to the trendline, in 2133 life expectancy in the US will be 100 years. I have low to medium confidence. While the R2 value is very high, 2133 is over 100 years from the data and I doubt that there will be a time when most people live to be 100 years old. Use this sheet for calculations See tabs at bottom for other data Persons Without Health Insurance Coverage by State: 2011 Maptool State Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware District of Columbia Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming source: StateHealthFacts.org Population 4,802,740 722,718 6,482,505 2,937,979 37,691,912 5,116,769 3,580,709 907,135 617,996 19,057,542 9,815,210 1,374,810 1,584,985 12,869,257 6,516,922 3,062,309 2,871,238 4,369,356 4,574,836 1,328,188 5,828,289 6,587,536 9,876,187 5,344,861 2,978,512 6,010,688 998,199 1,842,641 2,723,322 1,318,194 8,821,155 2,082,224 19,465,197 9,656,401 683,932 11,544,951 3,791,508 3,871,859 12,742,886 1,051,302 4,679,230 824,082 6,403,353 25,674,681 2,817,222 626,431 8,096,604 6,830,038 1,855,364 5,711,767 568,158 Uninsured 672,384 130,089 1,166,851 528,836 7,538,382 716,348 358,071 99,785 67,980 3,811,508 1,963,042 109,985 285,297 1,930,389 847,200 336,854 373,261 655,403 914,967 132,819 757,678 263,501 1,283,904 481,037 565,917 841,496 179,676 239,543 599,131 145,001 1,411,385 437,267 2,725,128 1,641,588 75,233 1,616,293 644,556 580,779 1,401,717 126,156 935,846 107,131 896,469 6,161,923 394,411 56,379 1,133,525 956,205 259,751 571,177 102,268 Health Insurance Coverage Status : 2009 Total persons 304,280,000 Covered by private or government health insurance 253,606,000 Not covered by health insurance 50,674,000 149,485,000 154,795,000 122,022,000 131,584,000 27,463,000 23,211,000 Race: White Black Asian Hispanic 202,744,000 38,624,000 14,011,000 48,901,000 178,401,000 30,522,000 11,602,000 33,081,000 24,343,000 8,102,000 2,409,000 15,820,000 Household income: Less than $25,000 $25,000-$49,999 $50,000-$74,999 $75,000 or more 58,159,000 71,340,000 58,381,000 116,400,000 42,675,000 56,062,000 49,029,000 105,839,000 15,483,000 15,278,000 9,352,000 10,561,000 Characteristic Total Gender: Male Female Consumer Price Index Source: Bureau of Labor Statistics (www.bls.gov) Year 1970 1971 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 CPI 38.8 40.5 41.8 44.4 49.3 53.8 56.9 60.6 65.2 72.6 82.4 90.9 96.5 99.6 103.9 107.6 109.6 113.6 118.3 124.0 130.7 136.2 140.3 144.5 148.2 152.4 156.9 160.5 163.0 166.6 172.2 177.1 179.9 184.0 188.9 195.3 201.6 207.3 215.3 214.5 218.1 224.9 229.6 Average Annual Spending on Health Insurance per Person year 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 Insurance Costs per person $ 581 $ 656 $ 725 $ 800 $ 815 $ 840 $ 841 $ 881 $ 913 $ 923 $ 983 $ 1,061 $ 1,168 $ 1,252 $ 1,332 $ 1,361 $ 1,465 $ 1,545 $ 1,653 $ 1,785 Average Life Expectancy in the US Year Life Expectancy in years 1960 1970 1975 1980 1985 1990 1995 2000 2002 2004 2005 2006 2007 2008 2009 2010 2011 69.7 70.8 72.6 73.7 74.7 75.4 75.8 76.8 76.9 77.5 77.4 77.7 77.9 77.8 78.5 78.7 79.0 Use this sheet for calculations See tabs at bottom for data files 8 8.700 9.461 10.289 11.189 12.168 13.233 14.391 15.650 17.020 18.509 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2000 was 552,200 and in 2010 it was 569,490. 1729.0 579864 291,421,906 in 2000 and 308,745,538 in 2010. 189.485 184.453 1.83 95.2381 28.43862 $393.67 $23,620.15 $3,620.15 18.1% Persons Without Health Insurance Coverage by State: 2011 Maptool State Texas Nevada New Mexico Georgia South Carolina California Florida Louisiana Mississippi Montana Arizona Arkansas Idaho Alaska Wyoming North Carolina Oklahoma New Jersey Oregon Illinois Kentucky Alabama Colorado Virginia New York West Virginia Ohio Utah Washington Missouri Tennessee South Dakota Maryland Indiana Kansas Michigan Nebraska Rhode Island District of Columbia North Dakota Delaware Iowa Pennsylvania New Hampshire Maine Wisconsin Connecticut Vermont Minnesota Hawaii Massachusetts Population Uninsured 25,674,681 2,723,322 2,082,224 9,815,210 4,679,230 37,691,912 19,057,542 4,574,836 2,978,512 998,199 6,482,505 2,937,979 1,584,985 722,718 568,158 9,656,401 3,791,508 8,821,155 3,871,859 12,869,257 4,369,356 4,802,740 5,116,769 8,096,604 19,465,197 1,855,364 11,544,951 2,817,222 6,830,038 6,010,688 6,403,353 824,082 5,828,289 6,516,922 2,871,238 9,876,187 1,842,641 1,051,302 617,996 683,932 907,135 3,062,309 12,742,886 1,318,194 1,328,188 5,711,767 3,580,709 626,431 5,344,861 1,374,810 6,587,536 6,161,923 599,131 437,267 1,963,042 935,846 7,538,382 3,811,508 914,967 565,917 179,676 1,166,851 528,836 285,297 130,089 102,268 1,641,588 644,556 1,411,385 580,779 1,930,389 655,403 672,384 716,348 1,133,525 2,725,128 259,751 1,616,293 394,411 956,205 841,496 896,469 107,131 757,678 847,200 373,261 1,283,904 239,543 126,156 67,980 75,233 99,785 336,854 1,401,717 145,001 132,819 571,177 358,071 56,379 481,037 109,985 263,501 311,591,890 50,231,522 24% 22% 21% 20% 20% 20% 20% 20% 19% 18% 18% 18% 18% 18% 18% 17% 17% 16% 15% 15% 15% 14% 14% 14% 14% 14% 14% 14% 14% 14% 14% 13% 13% 13% 13% 13% 13% 12% 11% 11% 11% 11% 11% 11% 10% 10% 10% 9% 9% 8% 4% 16% 44203739.36 source: StateHealthFacts.org 44,849,573 Health Insurance Coverage Status : 2009 Total persons 304,280,000 Covered by private or government health insurance 253,606,000 Not covered by health insurance 50,674,000 149,485,000 154,795,000 122,022,000 131,584,000 27,463,000 23,211,000 Race: White Black Asian Hispanic 202,744,000 38,624,000 14,011,000 48,901,000 178,401,000 30,522,000 11,602,000 33,081,000 24,343,000 8,102,000 2,409,000 15,820,000 Household income: Less than $25,000 $25,000-$49,999 $50,000-$74,999 $75,000 or more 58,159,000 71,340,000 58,381,000 116,400,000 42,675,000 56,062,000 49,029,000 105,839,000 15,483,000 15,278,000 9,352,000 10,561,000 Characteristic Total Gender: Male Female Consumer Price Index Source: Bureau of Labor Statistics (www.bls.gov) Year 1970 1971 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 CPI 38.8 40.5 41.8 44.4 49.3 53.8 56.9 60.6 65.2 72.6 82.4 90.9 96.5 99.6 103.9 107.6 109.6 113.6 118.3 124.0 130.7 136.2 140.3 144.5 148.2 152.4 156.9 160.5 163.0 166.6 172.2 177.1 179.9 184.0 188.9 195.3 201.6 207.3 215.3 214.5 218.1 224.9 Average Annual Spending on Health Insurance per Person 130.7 $ 953.52 136.2 $ 1,033.13 140.3 $ 1,108.43 Insurance costs per person in 2009 constant dollars 144.5 $ 1,187.54 $2,000.00 148.2 $ 1,179.61 $1,800.00 152.4 $ 1,182.28 $1,600.00 156.9 $ 1,149.74 $1,400.00 160.5 $ 1,177.41 163.0 $ 1,201.46 166.6 $ 1,188.38 cost year 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 Insurance Costs per person $ 581 $ 656 $ 725 $ 800 $ 815 $ 840 $ 841 $ 881 $ 913 $ 923 $ 983 $ 1,061 $ 1,168 $ 1,252 $ 1,332 $ 1,361 $ 1,465 $ 1,545 $ 1,653 $ 1,785 $1,200.00 $1,000.00 $800.00 $600.00 172.2 $ 1,224.47 $400.00 177.1 $ 1,285.06 $200.00 179.9 $ 1,392.64 184.0 $ 1,459.53 188.9 $ 1,512.51 195.3 $ 1,494.80 201.6 $ 1,558.74 207.3 $ 1,598.66 215.3 $ 1,646.86 214.5 $ 1,785.00 $1985 1990 1995 year 2000 2005 2010 2015 Average Life Expectancy in the US Life Expectancy in years 1960 1970 1975 1980 1985 1990 1995 2000 2002 2004 2005 2006 2007 2008 2009 2010 2011 69.7 70.8 72.6 73.7 74.7 75.4 75.8 76.8 76.9 77.5 77.4 77.7 77.9 77.8 78.5 78.7 79.0 79.7 2133 lif e e xpe c tanc y in ye ars Year Life Expectancy 80.0 78.0 76.0 f(x) = 0.1753329971x - 273.874662553 R = 0.9868492047 74.0 72.0 70.0 68.0 66.0 64.0 1950 1960 1970 1980 ye ar 1990 2000 2010 2020