Question

Exp oration #23-Solving Exponential Equations: HOMEWORK Homework Project A GDP of China e gross domestic product GDP of a country is the total value of goods and services produced y a country during one year. The United States has the largest GDP in the world, and it has been rising steadily over the past few decades. While China has a lesser GDP than the US, it's GDP has seen greater and greater increases in the recent past. The following data set shows the growth of China's GDP since 1990 Year GDP (in trillions of current US dollars) 1990 2000 2005 2010 2013 0.361 1.20 2.26 9.24 To begin, plot the data for GDP as the dependent variable and Number of Years Since 1990 as the independent variable. Why is it more appropriate to use an exponential model over a linear mo approximate this data set? Explain . del to Two students who previously investigated this data derived models for it. The models are exponential equations G b(r'), where t is the number of years since 1990 and G is the GDP in trillions of current US dollars. (In the upcoming clusters you will learn how to derive exponential models like these). The students' models are Monica's model: Zeke's model: G1-0.32(1.16) G2 0.32(1.1563 ) The models are similar, except that Monica rounded her r to two decimal places Plot the two equations on your data graph (so you can see the data and the graphs of the two equations). Adjust your axes so that you can see the years from 1990 to 2020 (and the graphs of the equations for those years). Remember that the independent ariable (the t-axis) is the number of years since 1990 Based on your graph, which model fits the data better Monica's or Zeke's? Why? Using both models, do the following . Set up two algebraic equations (one for each model) and solve them to answer the . Show the corresponding points on the graph of both equations (label both coordinates of . What effect does rounding the value of r have on predicting future average salaries? Interpret what each of the growth factors represent, expressing it as a percent increase following question: each point) What do these models predict the GDP of China will be in 2020? Set up an algebraic equation and solve it to answer the following question: In what year ill the average player salary reach 15.5 trillion dollars (approximately twice as much as Using Zeke's model, do the following in Show the corresponding point on the graph of his equation (label both coordinates of the point) Discuss whether you think an exponential model will continue to be realistic over the next 20 years or so. Also, feel free to include any personal thoughts or opinions on this matter. Please that you use

Answer 1

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