Problem 385
The Nursing Home Problem. Suppose that the cost of nursing homes (per year) for the following states is as follows for 2004:
Alaska: 95,000
Hawaii 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.
Solution
Order is Alaska < New York < Connecticut < Hawaii