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Personal consumption By using U.S. Bureau of Labor Statistics data for selected years from 1988 and projected to 2018, the billions of dollars spent for personal consumption in the United States can be modeled by P = 2969 e 0.051 t where t is the number of years past 1985. If this model is accurate, find and interpret the rate of change of personal consumption in 2015.

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Mathematical Applications for the ...

11th Edition
Ronald J. Harshbarger + 1 other
Publisher: Cengage Learning
ISBN: 9781305108042

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BuyFindarrow_forward

Mathematical Applications for the ...

11th Edition
Ronald J. Harshbarger + 1 other
Publisher: Cengage Learning
ISBN: 9781305108042
Chapter 11.2, Problem 54E
Textbook Problem
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Personal consumption By using U.S. Bureau of Labor Statistics data for selected years from 1988 and projected to 2018, the billions of dollars spent for personal consumption in the United States can be modeled by

P = 2969 e 0.051 t

where t is the number of years past 1985. If this model is accurate, find and interpret the rate of change of personal consumption in 2015.

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