Health care spending, in millions of dollars, in the United States since 1970 is shown in the table.
Year |
Per Capita Spending on Health Care |
1970 | $362 |
1980 | $1005 |
1988 | $2012 |
1993 | $3250 |
1997 | $3981 |
2000 | $4670 |
2001 | $4995 |
2002 | $5440 |
a. Determine the average rate of change in spending between 1988 and 2000 and interpret your answer.
b. If per capita spending on health care is modeled by S(x) = 4.14x2 + 23x + 356.8, where x is the number of years after 1970, determine the instantaneous rate of change in spending in 2000 and interpret your answer.
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