Finite Math and Applied Calculus (6th Edition)

Published by Brooks Cole
ISBN 10: 1133607705
ISBN 13: 978-1-13360-770-0

Chapter 9 - Section 9.2 - Exponential Functions and Models - Exercises - Page 645: 93a

Answer

$P=0.339(1.169)^{t}$ where $t$ is the number of years after 1994. .

Work Step by Step

Using desmos.com, we enter the table with variables $t$ and $P$. We enter in a free cell $P\sim Ab^{t}$ place tick in "log mode" to obtain an exponential regression formula tying $P$ to $t$, and the calculator returns (see image): $A=0.339, b=1.169$ with the correlation coefficient $r$ being close to $1$, indicating a good fit. The model is $P=0.339(1.169)^{t}$ where $t$ is the number of years after 1994.
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