Exponential RegressionThe table below shows the population of a fictional California Gold Rush Town named Lehi in theyears after its peak population in 1880.1880 1890 19001910 1920 1930YearPopulation 8500 3571 2465 1633 715 327For the purpose of this problem, let P represent the population of Lehit years after 1880 (t=0represents 1880). The new table is:t0102030 40 50P(t) 8500 3571 2465 1633 715 327Use your calculator to determine the exponential regression equation that models the set ofdata above. Round the "a" value to two decimals, and round the "b" value to two decimals. Usethe indicated variables and proper function notation.P(t)Based on the your regression model, what is the percent decrease per year?=Find P(45). Round your answer to the nearest whole number.%P(45)=Interpret your answer by completing the following sentence. Be sure to use units in youranswer."The population of LehiHow long did it take for the population of Lehi to reach 500 people? Round your answer to thenearest whole number.P(t) =In=500 when t =after 1880 was aboutInterpret your answer by completing the following sentence. Be sure to use units in youranswer.after 1880, the population of Lehi was about How long did it take for the population of Lehi to drop by half? Round your answer to thenearest whole number.P(t) has halved when t=Interpret your answer by completing the following sentence. Be sure to use units in youranswer.Inafter 1880, the population of Lehi had dropped by about half.

“Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…

The table below shows the population of a fictional California Gold Rush Town named Lehi in the years after its peak population in 1880. Year Population For the purpose of this problem, let P represent the population of Lehit years after 1880 (t=0 represents 1880). The new table is: t 0 10 20 30 40 50 P(t) 8500 3571 2465 1633 715 327 1880 1890 1900 8500 3571 2465 Use your calculator to determine the exponential regression equation that models the set of data above. Round the "a" value to two decimals, and round the "b" value to two decimals. Use the indicated variables and proper function notation. = 1910 1920 1930 1633 715 327 P(t) Based on the your regression model, what is the percent decrease per year? % P(45) Find P(45). Round your answer to the nearest whole number. =

The table below shows the population of a fictional California Gold Rush Town named Lehi in the years after its peak population in 1880. Year Population For the purpose of this problem, let P represent the population of Lehit years after 1880 (t=0 represents 1880). The new table is: t 0 10 20 30 40 50 P(t) 8500 3571 2465 1633 715 327 1880 1890 1900 8500 3571 2465 Use your calculator to determine the exponential regression equation that models the set of data above. Round the "a" value to two decimals, and round the "b" value to two decimals. Use the indicated variables and proper function notation. = 1910 1920 1930 1633 715 327 P(t) Based on the your regression model, what is the percent decrease per year? % P(45) Find P(45). Round your answer to the nearest whole number. =

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Exponential Regression
The table below shows the population of a fictional California Gold Rush Town named Lehi in the
years after its peak population in 1880.
1880 1890 1900
1910 1920 1930
Year
Population 8500 3571 2465 1633 715 327
For the purpose of this problem, let P represent the population of Lehit years after 1880 (t=0
represents 1880). The new table is:
t
0
10
20
30 40 50
P(t) 8500 3571 2465 1633 715 327
Use your calculator to determine the exponential regression equation that models the set of
data above. Round the "a" value to two decimals, and round the "b" value to two decimals. Use
the indicated variables and proper function notation.
P(t)
Based on the your regression model, what is the percent decrease per year?
=
Find P(45). Round your answer to the nearest whole number.
%
P(45)=
Interpret your answer by completing the following sentence. Be sure to use units in your
answer.
"The population of Lehi
How long did it take for the population of Lehi to reach 500 people? Round your answer to the
nearest whole number.
P(t) =
In
=
500 when t =
after 1880 was about
Interpret your answer by completing the following sentence. Be sure to use units in your
answer.
after 1880, the population of Lehi was about

How long did it take for the population of Lehi to drop by half? Round your answer to the
nearest whole number.
P(t) has halved when t
=
Interpret your answer by completing the following sentence. Be sure to use units in your
answer.
In
after 1880, the population of Lehi had dropped by about half.

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