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Based on market research, information diffuses through an adult population of fixed size P at a rate that is proportional to the number of people
Based on market research, information diffuses through an adult population of fixed size P at a rate that is proportional to the number of people who have yet to hear the news. Specifically, let Mt) be the number of people who have heard the news aftert days; then information diffusion proceeds according to the following differential equation, *7? = up _ N(t)) Consider the Black Monday crisis on Wall Street. On Black Monday (t = 0), no one has heard the news yet and therefore N(O) = 0. Two days after Blatk Monday (t=2), a poll showed that only 62% of the population had heard about it. What percentage of the population that will be aware of the Black Monday crisis after 5 days (t:5)? Note: round your answer to 2 decimal places
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