Question: Task B Part 2: A Continuous Fixed Percentage Model (a continuous model) In this part, you are to build and analyze a continuous fixed percentage

Task B Part 2: A Continuous Fixed Percentage Model (a continuous model) In this part, you are to build and analyze a continuous fixed percentage (or fixed rate) model where calculations are done as a function of a continuous time variable (such as in the Modules Two, Four, and Five Guided Activities). Instead of discrete recursions, these involve differential equations and integration. a. Create a continuous fixed rate population model based on an initial scenario, independent of data. b. Apply your continuous fixed rate model to the United States population data set for each year 1950-2017. Start with the year 1950. Assume that the growth rate is 0.01078. c. Use this model to predict the population in 2015. d. Use this model to predict the population in 2030. e. Graph your predicted populations from this model and the true populations from the United Nations data set on the same graph. Use all the years from 1950 through 2017. Be sure to include a descriptive title, a descriptive legend, and appropriate axes so that the graph is easily readable. f. Create a column (or row) in your Excel file to calculate the percentage error between the predicted populations using this model and the true population value for each year
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
