Business: shopping on the Internet. Online sales of all types of consumer products
Chapter 3, Problem 53(choose chapter or problem)
Business: shopping on the Internet. Online sales of all types of consumer products increased at an exponential rate in the last decade or so. Data in the following table show online retail sales, in billions of dollars. [3.3] a) Use REGRESSION to fit an exponential function to the data. Then convert that formula to an exponential function, base e, where t is the number of years after 1998, and determine the exponential growth rate. b) Estimate online sales in 2010; in 2020. c) After what amount of time will online sales be $400 billion? d) What is the doubling time of online sales?
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