Question

Acme Drug's Research and Development department spent 470 million dollars in 1993 and 1110 million dollars in 2001. Using the given ordered pairs, find the average rate of change in these expenditures per year. The ordered pairs are and .

Answer 1

The ordered pairs are (1993,470) and (2001, 1110).

Average rate of change = 80 million per year.

Explanation:

Let
`x` represents the year and
`y` represents the expenditure (in millions).

It is given that Acme Drug's Research and Development department spent 470 million dollars in 1993 and 1110 million dollars in 2001.

So, the ordered pairs are (1993,470) and (2001, 1110).

The average rate of change in these expenditures per year is

`m=(y_2-y_1)/(x_2-x_1)`

`m=(1110-470)/(2001-1993)`

`m=(640)/(8)`

`m=80`

Hence, the average rate of change in these expenditure is 80 million per year.