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Answer: Designing exponential growth functions Devise the
Chapter 1, Problem 13E(choose chapter or problem)
Designing exponential growth functions Devise the exponential growth function that fits the given data, then answer the accompanying questions. Be sure to identify the reference point (t =0) and units of time.
Rising costs Between 2005 and 2010. The average rate of inflation was about 3%/yr (as measured by the Consumer Price Index). If a cart of groceries cost $100 in 2005, what will it cost in 2015 assuming the rate of inflation remains constant?
Questions & Answers
QUESTION:
Designing exponential growth functions Devise the exponential growth function that fits the given data, then answer the accompanying questions. Be sure to identify the reference point (t =0) and units of time.
Rising costs Between 2005 and 2010. The average rate of inflation was about 3%/yr (as measured by the Consumer Price Index). If a cart of groceries cost $100 in 2005, what will it cost in 2015 assuming the rate of inflation remains constant?
ANSWER:
Step 1 of 3
The rate of inflation is constant.That growth rate is constant .
Therefore use exponential model:
