Formulate a population growth model in an urban area using an objective-oriented model/

software based on the following data:

• The initial value of “Population” is 50,000 people. “Population” increases at the rates of “Births” and “In Migration” and decreases at the rates of “Deaths” and “Out Migration.”

• The rate of “Births” is ~1.5% per year. The rate of “Deaths” is also a constant percentage of the “Population.” The “Average Lifetime” of a person is assumed as 67 years.

The rate of “Out Migration” is equal to 8% of the initial “Population.”