Problem

The following table gives China’s trade volume (in billions of U.S. dollars) as a function...

The following table gives China’s trade volume (in billions of U.S. dollars) as a function of year.

t (year)

1980

1985

1995

2004

V (billions of dollars)

 

38

70

281

1158

Source: Atlanta Journal-Constitution.

a. Find the best-fitting continuous growth exponential model for these data.


b. Use your model to predict the year in which China’s trade volume rises to 2000 billion dollars.

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Solutions For Problems in Chapter 4.R