Political Economics—Food Stamp Program: Fueled by rising unemployment and food prices, the number of Americans on food stamps has been steadily increasing. The number of participants in the federal food stamp program from 2000 to 2010 can be modeled by
f(x) = 17.73e0.06x 0 ≤ x ≤ 10
where x represents the number of years since 2000 and f(x) represents the number of participants in the food stamp program, measured in millions. (Source: U.S. Department of Agriculture.)
(a) Classify f as an exponential growth or exponential decay model.
(b) Evaluate f(3) and interpret.
(c) Compute the slope of the secant line for x = 2 and Δx = 7 and interpret.
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