Chapter 12.3, Problem 56E

(a)

To determine

To calculate: The average rates of change of the U.S average annual wage $\frac{dW}{dt}=1.66e^{0.0395t}$ from $2014$ to $2016$ and from $2016$ to $2018$ estimates the better approximates to the instantaneous rate of average in $2016$.

(b)

To determine

To calculate: The function for the model $W\left(t\right)$ for the rate of change of change of the U.S. average annual wage $\frac{dW}{dt}=1.66e^{0.0395t}$ where W is the wage in thousand dollars and t is time in years.