The following graph shows the percentage of U.S. residents who used the Internet at home in 2010 as a function of income (the data points) and a logistic model of these data (the curve).t 100 90 80 70 e 60 50 40 30 20 10 20 40 60 80 100 120 140 Household income ($1,000) The logistic model is given by 86.2 P(x) = 1+ 2.49(1.054)-x percent where x is the household income in thousands of dollars. (a) According to the model, what percentage of extremely wealthy people used the Internet at home? (Round your answer to one decimal place.) 86.2 (b) For low incomes, the logistic model is approximately exponential. Which exponential model best approximates P(x) for small x? (Round numeric values to four significant digits.) P(x) = 24.7(1.054)* (c) According to the logistic model, 46% of individuals with what household income used the Internet at home in 2010? (Round the answer to the nearest $1,000.) $21000 X U.S. Residents using Internet (%) +++
The following graph shows the percentage of U.S. residents who used the Internet at home in 2010 as a function of income (the data points) and a logistic model of these data (the curve).t 100 90 80 70 e 60 50 40 30 20 10 20 40 60 80 100 120 140 Household income ($1,000) The logistic model is given by 86.2 P(x) = 1+ 2.49(1.054)-x percent where x is the household income in thousands of dollars. (a) According to the model, what percentage of extremely wealthy people used the Internet at home? (Round your answer to one decimal place.) 86.2 (b) For low incomes, the logistic model is approximately exponential. Which exponential model best approximates P(x) for small x? (Round numeric values to four significant digits.) P(x) = 24.7(1.054)* (c) According to the logistic model, 46% of individuals with what household income used the Internet at home in 2010? (Round the answer to the nearest $1,000.) $21000 X U.S. Residents using Internet (%) +++
College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter5: Exponential And Logarithmic Functions
Section5.2: Applications Of Exponential Functions
Problem 50E
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Question
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W Chapter 2.4 - ECON 2200-03, x
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0 * e :
The following graph shows the percentage of U.S. residents who used the Internet at home in 2010 as a function of income (the data points) and a logistic model of these data
(the curve).t
100
90
80
70
p 60
3 50
40
30
20
10
0.
20
40
60
80 100 120 140
Household income ($1,000)
The logistic model is given by
86.2
P(x) =
percent
1 + 2.49(1.054)~*
where x is the household income in thousands of dollars.
(a) According to the model, what percentage of extremely wealthy people used the Internet at home? (Round your answer to one decimal place.)
86.2 %
(b) For low incomes, the logistic model is approximately exponential. Which exponential model best approximates P(x) for small x? (Round numeric values to four significant
digits.)
P(x) = 24.7(1.054)*
(c) According to the logistic model, 46% of individuals with what household income used the Internet at home in 2010? (Round the answer to the nearest $1,000.)
$21000 X
U.S. Residents using Internet (%e)
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