SOLUTION: Table of Data includes: Population in the United States as a function of time x(years since 1920):{0,10,20,30,40,50,60,70,80,90} y(Population in millions): {106,123.2,132.2,15

Question 955359: Table of Data includes:
Population in the United States as a function of time
x(years since 1920):{0,10,20,30,40,50,60,70,80,90}
y(Population in millions): {106,123.2,132.2,151.3,179.3,203.3,226.5,248.7,281.4,308.7}
Find:
1). Draw a scatter plot : Done already
2). Use calculator to find "the line of best fit" for this data. Show the equation.
I found approximately y=2.28x+93.41
3). What is the slope of the line? I know it is 2.28
What is the meaning in this application? (Give its units.)
I believe the meaning is to go up 2.28 and over one. In units I would say roughly twenty but I was hoping for better help in a translation of this answer. I believe I am incorrect.
4). By hand, develop an exponential model of the form A=Aoe^kt using the data from 1920 and 2000. Round the value of k to 4 decimal places.
I am unsure on how to do this.
5). Use your calculator to find "exponential function of best fit" for this data. Show the equation.
y=106.726(1.0124)^x
6). use function found in 5) to determine the annual percentage rate of growth of the United States
I assume 1.24%
Answer by Fombitz(32388) (Show Source): You can put this solution on YOUR website!
1) OK
2) Yes, correct
3) Slope in this problem means it the change in population per year so the population was increase at roughly 2.3 million people per year since 1920.
4) You use two data points to solve for the two unknowns,
1920 -> 0-106
2000 -> 80-281.4

So when ,

and
when ,

.
.

.
.
5) I get a slightly different answer using an online regression calculator

6) Yes, that's correct, take your multiplier, subtract 1 and multiply by 100 to get the annual percentage growth rate.

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