Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Total personal income of the country ( in billions of dollars ) for selected years from 1 9 5 5 to 2 0 0 0

Total personal income of the country (in billions of dollars) for selected years from 1955 to 2000 is given in the table.
(a) These data can be modeled by an exponential function. Write the equation of this function, with x as the number of years after 1955.
(b) If this model is accurate, what will be the country's total personal income in 2005?
(c) In what year does the model predict the total personal income will reach $23 trillion?
\table[[Year,Personal Income],[1955,411.9],[1965,833.8],[1975,2312.2],[1985,4881.6],[1995,8429.1],[2000,10,231.6
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

An Introduction to Analysis

Authors: William R. Wade

4th edition

132296381, 978-0132296380

More Books

Students also viewed these Mathematics questions