Concept explainers
Real consumption One of the components of the U.S. real gross domestic product (GDP) is real national consumption. Using U.S. Energy Administration data for selected years from 2014 and projected to 2040, this real consumption (in trillions of dollars) can be modeled by the function
(a) Is this model one of exponential growth or exponential decay? Explain.
(b) Graph this equation with a graphing utility to show the graph from 2010 through the year 2050.
Want to see the full answer?
Check out a sample textbook solutionChapter 5 Solutions
Mathematical Applications for the Management, Life, and Social Sciences
- With what kind of exponential model would half-life be associated? What role does half-life play in these models?arrow_forwardWhat is the y -intercept of the logistic growth model y=c1+aerx ? Show the steps for calculation. What does this point tell us about the population?arrow_forwardSales of a video game released in the year 2000 took off at first, but then steadily slowed as time moved on. Table 4 shows the number of games sold, in thousands, from the years 20002010. a. Let x represent time in years starting with x=1 for the year 2000. Let y represent the number of games sold in thousands. Use logarithmic regression to fit a model to these data. b. If games continue to sell at this rate, how many games will sell in 2015? Round to the nearest thousand.arrow_forward
- Does a linear, exponential, or logarithmic model best fit the data in Table 2? Find the model.arrow_forwardWhat is the difference between the equation for exponential growth versus the equation for exponential decay?arrow_forwardExponential Growth Is the graph of exponential growth versus time increasing or decreasing?arrow_forward
- Enter the data from Table 2 into a graphing calculator and graph the ranking scatter plot. Determine whetherthe data from the table would likely represent a function that is linear, exponential, or logarithmic.arrow_forwardWhat might a scatterplot of data points look like if it were best described by a logarithmic model?arrow_forward
- Algebra & Trigonometry with Analytic GeometryAlgebraISBN:9781133382119Author:SwokowskiPublisher:CengageCollege AlgebraAlgebraISBN:9781305115545Author:James Stewart, Lothar Redlin, Saleem WatsonPublisher:Cengage Learning
- Glencoe Algebra 1, Student Edition, 9780079039897...AlgebraISBN:9780079039897Author:CarterPublisher:McGraw HillFunctions and Change: A Modeling Approach to Coll...AlgebraISBN:9781337111348Author:Bruce Crauder, Benny Evans, Alan NoellPublisher:Cengage LearningCalculus For The Life SciencesCalculusISBN:9780321964038Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.Publisher:Pearson Addison Wesley,