Your Name, Student ID_Econ1031_Assignment_2024_s1 Your Name, Student ID_Econ1031_Assignment_2024_s1 Question 5 (10 marks) the most users after a long period of time? Explain your answer. (2 marks) Answer: (a) The following graphs show the numbers of people using competing social media networks "FacePaly" and "Wastrel" at time t, which is measured in days. The numbers are (b) In a medium sized town with a strong economy the number of school aged shown in natural terms and as natural logarithms. children is growing exponentially. Government investment in education (such as building new schools and training teachers) is also growing exponentially, but at a much slower rate, and with delays due to planning and approvals. Models for the Number of network users Log of number of users growth of the number of Children (K) and the number of school places (P) are given K = Ag lost P = Be0 011(+-5) Time + is measured in years. Time in days Time in days (i) Solve for A if K = 64201 when t = 5. (1 mark) Answer: (ii) Solve for B if P = 75000 in the year t =5. (1 mark Answer: (iii) In how many years will the number of school aged children exceed the number ") Simply by looking at features of the graphs, is the number of users of network F of school places, if the growth rates in these models are unchanged? (round your growing exponentially with time at a fixed rate? Explain your answer. (1 mark) answer to the nearest whole number) (2 marks) Answer. Answer. ii) Simply by looking at features of the graphs, is the number of users of network W growing faster or slower than network F as a proportion of current users? Explain END OF ASSIGNMENT your answer. (1 mark) Answer. (iii) Two points on the logarithmic graph are (t=5. M(F)=11.65756) and (1=15, I(F)=12.15756). Assuming that a model for the relationship between the number of users of the network is given by: F = Aert, use the given points to to estimate the model coefficients A and r. Round your estimate of A to the nearest whole number, and giver to 3 d.p. (1 mark) Answer: (iv) Two points on the logarithmic graph are (t=5, bu(W)=12.345835) and (t=15. Im(W)=12.971540). Assuming that a model for the relationship between the number of users of the network is given by: W = C + bt, use the given points to estimate the model coefficients C and b (nearest whole number). (1 mark) Answer. (v) Assuming growth rates are unchanged for both models, which network will have