Question 59967: I AM TOTALLY STUCK AND NEED YOUR HELP.
please assit with the following Homework its needed tommorow morning and am so stuck ....
National poverty eradication finance (NPEF) offers credit to operations in the informal sector. However NPEF is concerned as to how long it will take to collect the accounts receivable for credit issued in any given year. Data gathered over a number of years have indicated that the collection amount for Ksh. 100 thousand credits issued in any year is as follows:
Year (t) 1 2 3 4
Amount collected 6.1 12.3 24.7 50
a) Determine the better collection function among linear , quadriatic and exponential (e-form)
b) Project collections for 5 th and 6 th year since a ksh.100 thousand credit was issued
Answer by tutorcecilia(2152)   (Show Source):
You can put this solution on YOUR website! Year (t) 1 2 3 4
Amount collected 6.1 12.3 24.7 50
The relationship between the y-terms is a multiply of about 2.016
For example:
12.3/6.1=2.0163
24.7/12.3=2.081
24.7/12.3=2.0081
50/24.7=2.02429
.
If you graph the points (1,6.1) (2, 12.3), (3, 24.7) and (4,50), you will get an expontential graph.
.
Since each consecutive y-value is multiplied by about 2.016, to find the 5th term, multiply the 4th term by 2.016:
(50)(2.016)=100.8
And to find the 6th term:
(100.8)(2.016)=203.2128
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