posted by Aleah on .
The Nursing Home Problem. Suppose that the cost of nursing homes (per year) for the following states is as follows for 2004:
New York $110,000
If each state had a $10,000 cost increase since 1994, rank order the states in terms of their percent increase of costs (least to greatest) without actually doing the calculations. Explain how you established your ranking.
This is a thought question. Think about it.
percent = amount of increase/cost.
The amount of increase is constant at $10,000; therefore, the smallest cost per year will be the largest increase. Follow that reasoning to complete the ranking.
Is it Alaska, New York, Connecticut, and Hawaii?
Why not just take you calculator and calculate them to see if you are right. But I would give you a good grade for your answer.