Use the best-fitting exponential model to determine the answer to each question. (For problems using calendar years, “reset the clock” so that t = 0 in the year for which you first have data.)
Exercise
The gross domestic product (GDP) of a country is a very common measure of the vitality of its economy. China’s economy has been growing rapidly, as shown by the increase in its GDP in the accompanying table.
Year t | 1980 | 1985 | 1990 | 1995 | 2000 | 2004 |
GDP of China (billions of dollars) | 266 | 306 | 388 | 706 | 1072 | 1647 |
Source: Atlanta Journal-Constitution.
a. According to your model, what will the GDP of China be in 2010?
b. When will the GDP of China rise to 2000 million (2 trillion) dollars?
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