Concept explainers
In the following exercises, find the exponential model as follows: If you do not have suitable technology, use the first and last data points to find a function. (See Examples 3 and 4.) If you have a graphing calculator or other suitable technology, use exponential regression to find a function. (See Example 4.)
Chinese Bank Assets The table shows the total assets (in trillion yuan) held in Chinese banks for the given years.
Year | 2000 | 2005 | 2007 | 2009 | 2011 | 2013 | 2015 |
Assets | 17 | 41 | 53 | 79 | 118 | 151 | 199 |
Find the exponential model for these data, where
Assume that the model remains accurate, and predict the total assets in 2018 and 2021.
Use a graphing calculator (or trial and error) to determine the first full year in which the total assets exceed 450 trillion yuan.
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Mathematics with Applications In the Management, Natural, and Social Sciences (12th Edition)
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