The sales, S, of a product have declined in recent years. There were 201 million sold...
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The sales, S, of a product have declined in recent years. There were 201 million sold in 1984 and 1.5 million sold in 1994. Assume the sales are decreasing according to the exponential decay model, S(t)=Soek a) Find the value k and write an exponential function that describes the number sold after time, t, in years since 1984. b) Estimate the sales of the product in the year 2002. c) In what year (theoretically) will only 1 of the product be sold? a) Rounded to six decimal places, k = b) To the nearest unit, the total is c) Only one unit will be sold in the year (Round to the nearest year as needed.) The sales, S, of a product have declined in recent years. There were 201 million sold in 1984 and 1.5 million sold in 1994. Assume the sales are decreasing according to the exponential decay model, S(t)=Soek a) Find the value k and write an exponential function that describes the number sold after time, t, in years since 1984. b) Estimate the sales of the product in the year 2002. c) In what year (theoretically) will only 1 of the product be sold? a) Rounded to six decimal places, k = b) To the nearest unit, the total is c) Only one unit will be sold in the year (Round to the nearest year as needed.)
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a The year 1984 corresponds to time t 0 and the year 1994 corresponds to time t 10 The formula for t... View the full answer
Related Book For
International Economics
ISBN: 978-1429278447
3rd edition
Authors: Robert C. Feenstra, Alan M. Taylor
Posted Date:
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