Concept explainers
Reminder Round all answers to two decimal places unless otherwise indicated.
Further Analysis of Population Growth This is a continuation of Exercise 3. Our goal is to make an exponential model or the data and use it to get a more accurate estimate of the rate of change in population in 1955.
a. Use regression to obtain an exponential model for population growth. (For details on the method used here, see Section
b. Use the formula you found in part a to get
c. How does your answer from part b of this exercise compare with your answer from part a of exercise 3? Does this agree with your answer in part
Population Growth The following table shows the population of reindeer on an island as of the given year.
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We let
a. Approximate
b. Use your work from part
c. The number you calculated in part
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Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)
- Reminder Round all answers to two decimal places unless otherwise indicated. Credit Card Payments You make one charge to a new credit card, but then charge nothing else and make the minimum payment each month. You can't find all of your statements, but the accompanying table shows, for those that you do have, your balance B in dollars, after you made n payments. Payment n 2 4 7 11 Balance B 478.73 440.74 389.33 329.99 a. Use regression to find an exponential for the data in the table. Round the decay factor to four decimal places. b. What was your initial charge? c. For such a payment scheme, the decay factor equals (1+r)(1m). Here r is the monthly finance charge as a decimal, and m is the minimum payment as a percentage of the new balance when expressed as a decimal. Assume that your minimum payment is 5, so m=0.05. Use the decay factor in your model to determine your monthly finance charge.arrow_forwardReminder Round all answers to two decimal places unless otherwise indicated. An Inappropriate Linear Model for Radioactive Decay This is a continuation of Exercise 14. Physicists have established that radioactive substances display constant percentage decay, and thus radioactive decay is appropriately modeled exponentially. This exercise is designed to show how using data without an understanding of the phenomenon that generated them can lead to inaccurate conclusions. a. Plot the data points from Exercise 14. Do they appear almost to fall on a straight line? b. Find the equation of the regression line and add its graph to the one you made in part a. c. If you used the regression line as a model for decay of 239U, how long would it take for the Initial 1 gram to decay to half that amount? Compare this with your answer to part d of Exercise 14. d. The linear model represented by the regression line makes an absurd prediction concerning the amount of uranium Uranium-239 remaining after 1 hour. What is this prediction? 14. The half life of 239U Uranium-239 is an unstable isotope of uranium that decays rapidly. In order to determine the rate of decay, 1 gram of 239U was placed in a container, and the amount remaining was measured at 1-minute intervals and recorded in the table below. Time, in minutes Grams remaining 0 1 1 0.971 2 0.943 3 0.916 4 0.889 5 0.863 a. Show that these are exponential data and find an exponential model For this problem, round all your answers to three decimal places. b. What is the percentage decay rate each minute? What does this number mean in practical terms? c. Use functional notation to express the amount remaining after 10 minutes and then calculate the value. d. What is the half life of 239U?arrow_forwardReminder Round all answers to two decimal places unless otherwise indicated. U.S Investment Abroad In 1980, direct U.S. business investment abroad was about 13.5 billion dollars. From 1980 through 2010, that investment grew at an average annual rate of 11.24. a.Make an exponential model that shows the U.S. direct investment aboard A, in billions of dollars, t years after 1980. b.From 1980, how long did it take for U.S. investments abroad to double? c.According to the model, how long would it take from 2010 for investments abroad to double the level present in 2010?arrow_forward
- Reminder Round all answers to two decimal places unless otherwise indicated. Long-Term Population Growth Although exponential growth can often be used to model population growth accurately for some periods of time, there are inevitably, in the long term, limiting factors that make purely exponential models inaccurate. From 1790 to 1860, the U.S. population could be modeled by N=3.931.03tmillion people, where t is the time in years since 1790. If this exponential growth rate had continued until today, what would be the population of the United States have been in 2015? Compare your answer with the actual population of the United States in 2015, which was about 323million.arrow_forwardReminder Round all answers to two decimal places unless otherwise indicated. World Copper Production World production of copper, in millions of tons per year, from 1900 to 2000 is given by C=0.51.033t, where t is the time in years since 1900. a.What production level does this model give for the year 2000? b.If this model were extended to 2025, how could you use your knowledge of copper production in 2024 to estimate copper production in 2025?arrow_forwardReminder Round all answers to two decimal places unless otherwise indicated. Gold Prices During the period from 2003 through 2010, gold prices doubled every 3years approximately. a.What was the yearly growth factor for the price of gold during this period? b.Explain in practical terms the meaning of the growth factor you found in part a.arrow_forward
- Reminder Round all answers to two decimal places unless otherwise indicated. An Investment You have invested money in a savings account that pays a fixed monthly interest on the account balance. The following table shows the account balance over the first 5 months. Time, in months Saving balance 0 1750.00 1 1771.00 2 1792.25 3 1813.76 4 1835.52 5 1857.55 a. How much money was originally invested? b. Show that the data are exponential and find an exponential model for the account balance. c. What is the monthly interest rate? d. What is the yearly interest rate? e. Suppose that you made this investment on the occasion of the birth of your daughter. Your plan is to leave the money in the account until she starts college at age 18. How large a college fund will she have? f. How long does it take your money to double in value? How much longer does it take it to double in value again?arrow_forwardReminder Round all answers to two decimal places unless otherwise indicated. APR and APY Recall that financial institutions sometimes report the annual interest rate that they offer on investments as the APR, often called the nominal interest rate. To indicate how an investment will actually grow, they advertise the annual percentage yield, or APY. In mathematical terms, this is the yearly percentage growth rate for the exponential function that models the account balance. In this exercise and the next, we study the relationship between the APR and the APY. We assume that the APR is 10 or 0.1 as a decimal. To determine the APY when we know the APR, we need to know how often interest is compounded. For example, suppose for the moment that interest is compounded twice a year. Then to say that the APR is 10 means that in half a year, the balance grows by 102 or 5. In other words, the 12-year age growth rate is 0.12 as a decimal. Thus, the 12-year growth factor is 1+0.12. To find the yearly growth factor, we need to perform a unit conversion: One year is 2 half-year periods, so the yearly growth factor is (1+0.12)2, or 1.1025. a. What is the yearly growth factor if interest is compounded four times a year? b. Assume that interest is compounded n times each year. Explain why the formula for the yearly growth factor is (1+0.1n)n. c. What is the yearly growth factor if interest is compounded daily? Give your answer to four decimal places/arrow_forwardReminder Round all answers to two decimal places unless otherwise indicated. Population Growth A population of animals is growing exponentially, and an ecologist has made the following table of the population size, in thousands, at the start of the given year. Year Population, in thousands 2011 5.25 2012 5.51 2013 5.79 2014 6.04 2015 6.38 2016 6.70 Looking over the table, the ecologist realizes that one of the entries for population size is in error. Which entry is it, and what is the correct population? Round the ratios to two decimal places.arrow_forward
- Reminder Round all answers to two decimal places unless otherwise indicated. Account Growth The table below shows the balance B in a savings account, in dollars, in terms of time t, measured as the number of years since the initial deposit was made. Time t Balance B 0 125.00 1 131.25 2 137.81 3 144.70 4 151.94 a. Was the yearly interest rate constant over the first 4 years? If so, explain why and find that rate. If not, explain why not. Round the ratios to two decimal places. b. Estimate B(2.75) and explain in practical terms what your answer means. Assume that interest is compounded and deposited continuously.arrow_forwardReminder Round all answers to two decimal places unless otherwise indicated. Theater Production Data from the Statistical Abstract of the United States show that in 1995, there were 56.61 thousand performances in the United States by nonprofit professional theaters. From 1995 through 2007, this number increased on average by about 10 each year. a.Let P denote the number of performances, in thousands, and let t denote the time in years since 1995. Make an exponential model for P versus t. b.How many performances by non-profit professionals theaters does your model give for 2007? The actual number was 197 thousand.arrow_forwardReminder Round all answers to two decimal places unless otherwise indicated. Unit conversion with Exponential Growth The exponential growth function N=35001.77d, where d is measured in decades, gives the number of individuals in a certain population. a.Calculate N(1.5) and explain what your answer means. b.What is the percentage growth rate per decade? c.What is the yearly growth factor rounded to three decimal places? What is the yearly percentage growth rate? d.What is the growth factor rounded to two decimal places for a century? What is the percentage growth rate per century?arrow_forward
- Functions and Change: A Modeling Approach to Coll...AlgebraISBN:9781337111348Author:Bruce Crauder, Benny Evans, Alan NoellPublisher:Cengage Learning