The number of full-time and part-time employees of an online retailer increased exponentially from 69 thousand in 2011 to 306.9 thousand in 2016. a) Let t=0 correspond to 2011 and t= 5 correspond to 2016. Then t is the number of years after 2011. Use the data points (0,69) and (5,306.9) to find the exponential growth rate and fit an exponential growth function P(t) = Po e kt to the data, where P(t) is the number of employees, in thousands, t years after 2011. b) Use the function found in part (a) to estimate the number of employees in 2017. c) According to this model, when will there be one million employees? a) P(t) =D (Type your answer using exponential notation. Use integers or decimals for any numbers in the equation. Do not round until the final answer. Then round to the nearest thousandth as needed.)
The number of full-time and part-time employees of an online retailer increased exponentially from 69 thousand in 2011 to 306.9 thousand in 2016. a) Let t=0 correspond to 2011 and t= 5 correspond to 2016. Then t is the number of years after 2011. Use the data points (0,69) and (5,306.9) to find the exponential growth rate and fit an exponential growth function P(t) = Po e kt to the data, where P(t) is the number of employees, in thousands, t years after 2011. b) Use the function found in part (a) to estimate the number of employees in 2017. c) According to this model, when will there be one million employees? a) P(t) =D (Type your answer using exponential notation. Use integers or decimals for any numbers in the equation. Do not round until the final answer. Then round to the nearest thousandth as needed.)
Linear Algebra: A Modern Introduction
4th Edition
ISBN:9781285463247
Author:David Poole
Publisher:David Poole
Chapter6: Vector Spaces
Section6.7: Applications
Problem 14EQ
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Transcribed Image Text:The number of full-time and part-time employees of an online retailer increased exponentially from 69 thousand in 2011 to 306.9 thousand in 2016.
a) Let t=0 correspond to 2011 and t=5 correspond to 2016. Then t is the number of years after 2011. Use the data points (0,69) and (5,306.9) to find the exponential growth rate and fit an exponential growth function P(t) = Po e kt to the data,
where P(t) is the number of employees, in thousands, t years after 2011.
b) Use the function found in part (a) to estimate the number of employees in 2017.
c) According to this model, when will there be one million employees?
a) P(t) =
(Type your answer using exponential notation. Use integers or decimals for any numbers in the equation. Do not round until the final answer. Then round to the nearest thousandth as needed.)
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