SOLUTION: I got the first part right, but how do I set up and solve for part B? The population of a city was 161 thousand in 1992. The exponential growth rate was  1.6% per ye

Algebra ->  Probability-and-statistics -> SOLUTION: I got the first part right, but how do I set up and solve for part B? The population of a city was 161 thousand in 1992. The exponential growth rate was  1.6% per ye      Log On


   

Question 1131052: I got the first part right, but how do I set up and solve for part B?
The population of a city was 161 thousand in 1992. The exponential growth rate was  1.6% per year.
​a) Find the exponential growth function in terms of​ t, where t is the number of years since 1992. P(t)=161000e0.016t
​b) Predict the population in 2004​, to the nearest thousand.
​(Round to the nearest thousand as​ needed.)
Answer by josgarithmetic(39630) About Me  (Show Source):
You can put this solution on YOUR website!
If you want to use the function you are trying to use, it should be written P%28t%29=161000%2Ae%5E%280.016t%29
But even better, just understand that P is in the thousands, and change your function to say
P%28t%29=161%2Ae%5E%280.016t%29


Your description means, t is time in years since 1992.

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b) Predict the population in 2004​, to the nearest thousand.
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Year 2004 means you want t=12.
2004-1992=12

Evaluate P(12).

P%2812%29=161%2Ae%5E%280.016%2A12%29
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161%2Ae%5E%280.192%29
161%2A1.21167
highlight%28195%29----------prediction, 195 thousand

195000 predicted for year 2004