7.In 1990, the world population was 5.284 billion, with a relative growth rate of 1.56%/year.  Use an exponential growth model to predict the year 2000 population.  The world population in 2000 was 6.067 billion.  Compute the percentage error in the projection and round the answer to the nearest one percent.

A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
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Chapter1: Combinatorial Analysis
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7.In 1990, the world population was 5.284 billion, with a relative growth rate of 1.56%/year.  Use an exponential growth model to predict the year 2000 population.  The world population in 2000 was 6.067 billion.  Compute the percentage error in the projection and round the answer to the nearest one percent.

 
 
 
 
 
 
 
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