Question
The percentage of Americans who are retired has been increasing over the last decade. This is causing some concern because health care, social security, and
The percentage of Americans who are retired has been increasing over the last decade. This is causing some concern because health care, social security, and other costs will be the responsibility of a smaller group of people. That is, as the percentage of retired people increases, the percentage of working age people decreases. The following model predicts the percentage of retired people based on demographic data:R=t/873.36-2.15where R is the percentage (as a decimal) of Americans who are retired in the year t (for example, the year 1995 would be t = 1995).Use the formula to predict the percentage of retired people in 2028. Give the answer as a percent,rounded to the nearest tenth of a percent.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started