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Social Science8. In 1950, the world population was 2560 million people. In 1960, the population was3040 million people. Assume that world population grows in constant relative propor-tion(a) What is the relative growth rate, k?(b) Use the model to predict the population in 2020.
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8. In 1950, the world population was 2560 million people. In 1960, the population was 3040 million people. Assume that world population grows in constant relative propor- tion (a) What is the relative growth rate, k? (b) Use the model to predict the population in 2020.
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Consider P(t) is the population in the year t.
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Let 0 is corresponds in the year 1950 From the given, P(0)=2560 and P(10) 3040 (a) The model is given by P(t) P(0)e* P(t) 2560e
At t=10,...
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P(10) 2560e*10 3040 2560e10k 3040 e10k 2560 3040 In(el0) In 10k 2560 (0.171) k 10 k 0.0171 0.0171t That is, the relative growth is P(t)= 2560e'
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