The value, V, of a Tiffany lamp, worth $225 in 1975, increases at 15% per year. Its value in dollars 1' years after 1975 is given by V = 2250.15)'. Find the average value of the lamp over the period 19752011. Round your answer to two decimal places. W I I Your answer is partially correct. The population of the world1 tyears after 2010 is predicted to be P = 6.77e0'012' billion. Round your answers to one decimal place. (a) What population is predicted in 2026? The predicted population of the world in the year 2026 is billion people. (b) What is the predicted average population between 2010 and 2026? The average population of the world over this time period is a I billion people. 1www.indexmundi.com, accessed February 4, 2021. In this problem annual income for ages 25 to 85 is given graphically. People sometimes spend less than their income (to save for retirement) or more than their income (taking out a loan). The process of spreading out spending over a lifetime is called consumption smoothing. annual income ($10003 per year) (a) Find the average annual income for these years. The average annual income is l dollars/year. eTextbook and Media (b) Assuming that people spend at a constant rate equal to their average income, when are they spending less than they earn, and when are they spending more? Enter your answers in increasing order. They spend less than their income every year from age a to a They spend more than their income every year from age a to n and from age: ton eTextbook and Media