The number of online buyers in Western Europe is expected to grow steadily in the coming years. The function below for 1  t  9, gives the estimated buyers as a percent of the total population, where t is measured in years, with t = 1 corresponding to 2001. P(t) = 28.7 + 14.92 ln(t) (a) What was the percent of online buyers in 2001 (t = 1)?How fast was it changing in 2001? (b) What is the percent of online buyers expected to be in 2006 (t = 6)? How fast is it expected to be changing in 2006?

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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The number of online buyers in Western Europe is expected to grow steadily in the coming years. The function below for 1  t  9, gives the estimated buyers as a percent of the total population, where t is measured in years, with t = 1 corresponding to 2001.

P(t) = 28.7 + 14.92 ln(t)
(a) What was the percent of online buyers in 2001 (t = 1)?

How fast was it changing in 2001?
 

(b) What is the percent of online buyers expected to be in 2006 (t = 6)?
 
How fast is it expected to be changing in 2006?
 
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