Given:
Giant panda population in 2014 = 1864
The giant panda population in China is increasing at a rate of 1.5% each year.
To find:
The function that models the panda population since 2014.
Solution:
Since population of giant panda is increasing, therefore the function is the exponential growth model.
The general exponential growth model is:
Where, is the initial population, r is the growth rate in decimal and t is the time period.
Putting , we get
Where, t is the number of years since 2014.
Therefore, the required exponential growth model is .