An economist tracks the price of a certain item at the beginning of several years and compiles the following table.2014 2015273.47 281.672016290.122013YearPrice in dollars 265.50(a) Show that the price is growing as an exponential function. (Let P be the price in dollars and t the time in years since 2013.)Calculate the ratios of new price/old price. (Round your answers to two decimal places.)P₁.PoP2,P1P2Does the table show exponential data?YesNo(b) Find an exponential model for the data. (Round the values to two decimal places. Let t be the time in years since 2013.)CP= 304.21 x 0.83tP = 290.12 x 0.97tCP= 260.00 x 1.12tP = 93.12 x 1.35*P = 265.50 x 1.03t(c) At the beginning of some year, the price will surpass $344. Use the model found in part (b) to determine which year.

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Answered: An economist tracks the price of a…

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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x 1 2 3 4 5 6 7 8 9 10 y 1 2 4 8 16 32 64 128 256 512 Create a scatter plot of the data given and write an exponential equation for the function represented by the graph. Based on the equation, determine IRC and the maximum value of the function. Determine when a 56% of the original amount is reached based on the model/equation.
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Determine Instantaneous Rate of Change and the maximum value of the function based on the exponential equation.
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An economist tracks the price of a certain item at the beginning of several years and compiles the following table. Year 2013 2014 2015 2016 Price in dollars 265.50 273.47 281.67 290.12 (a) Show that the price is growing as an exponential function. (Let P be the price in dollars and t the time in years since 2013.) Calculate the ratios of new price/old price. (Round your answers to two decimal places.) P1 Ро P2 P1 P3 P2 Does the table show exponential data? o Yes o No (b) Find an exponential model for data. (Round to two deci al places. Let t be the in years since 2013.) OP = 304.21 × 0.83° OP = 260.00 × 1.12" OP = 290.12 × 0.97* OP = 265.50 × 1.03t OP = 93.12 × 1.35° (c) At the beginning of some year, the price will surpass $344. Use the model found in part (b) to determine which year.
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Use the table to answer the question. Hours Number of Bacteria 0 20 million 4 22 million 8 25 million 12 28 million 16 32 million 20 36 million 24 40 million 28 45 million The scatterplot of these data, when graphed, reveals what relationship between hours and the number of bacteria? Explain. The scatterplot reveals that hours and number of bacteria have a strong exponential relationship since the points closely follow an exponential curve. Since the number of bacteria increases as time increases, the relationship is negative. The scatterplot reveals that hours and number of bacteria have a strong exponential relationship since the points closely follow an exponential curve. Since the number of bacteria increases as time increases, the relationship is positive. The scatterplot reveals that hours and number of bacteria have a strong linear relationship since the points closely follow a line. Since the number of bacteria increases as time…
answer 9 and 10 using the information
Health Services Expenditures The following tablegives total U.S. expenditures (in billions of dollars)for health services and supplies for selected yearsfrom 2000 and projected to 2018. a. Find an exponential function to model these data,with x equal to the number of years after 2000.b. Use the model to estimate the U.S. expendituresfor health services and supplies in 2020.
Betty and Bob invest $2,000 in an account. a. After 8 years the account balance is $6,129.71. Find their per annum continuous rate of return. Your final answer should be correct to 2 places after the decimal point. ______________ b. If the trend continuous then find the account balance after 20 years. Your final answer should be correct to 2 places after the decimal point. _____________
The air pressure in the cabin of fighter jet decreases as the plane ascends. Air Pressure in pounds per Altitude in 10,000 of feet square inch 1 10.200 2 6.375 3.984 4 2.490 A. The change is linear. The constant rate of change is about -3.825 . B. The change is linear. The constant rate of change is 0.0003825. C. The change is exponential. The common ratio is about 0.625. D. The change is exponential. The common ratio is about 1.6. Interpretation: A. The air pressure decreases by about 37.5% every 10,000 feet of altitude. B. The air pressure decreases 3.825 pounds per square inch per 10,000 feet of altitude. O C. The air pressure increases by about 62.5% every 10,000 feet of altitude. D. The air pressure decreases 0.625 pounds per square inch per 10,000 feet of altitude.

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