The following population data are available for Iceland and the Faroe Islands (lumped together, because Iceland’s independence from Denmark came only in 1944):

Neglecting immigration and emigration, write a balance equation on people and construct a model of the population as a function of time.
a. Assume that the annual numbers of births and deaths are both constant, and use average values. Compare your result with the annual population data.
b. Assume that the numbers of births and deaths annually are constant fractions of the total population, and use average values. Compare your result with the annual population data.
c. Compare the two results and comment.
d. The combined population of Iceland and the Faroe Islands in 2009 was 368,000. What do your models predict?

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Year 1921 1922 1923 1924 1925 1926 1927 1928 1929 1930 Mean Population 116,000 118,000 119,000 120,000 122,000 124,000 126,000 128,000 130,000 132,000 Births 3,215 3,214 3,264 3,150 3,153 3,267 3,221 3,162 3,219 3,441 Deaths 1,708 1,491 1,542 1,730 1,457 1,320 1,449 1,318 1,490 1,522