Devise an exponential decay function that fits the following data; then answer the accompanying questions. Be sure to identify the reference point (t = 0) and units of time.

China’s one-child policy was implemented with a goal of reducing China’s population to 700 million by 2050 (from 1.2 billion in 2000). Suppose China’s population declines at a rate of 0.5%/yr. Will this rate of decline be sufficient to meet the goal?