3 years ago

a country's population in 1994 was 52 million in 2000 it was 55 million estimate the population in 2003

1 answer:

3 0

[email protected] = 52,000,000
[email protected] = 55,000,000
[email protected] = ?
r = ?

Equation: P = Po * e^(rt)
-----
Solve r:
P/Po = e^(rt)

ln(P/Po) = rt
r = ln(P/Po)/t
r = ln([email protected]/[email protected])/(2000-1994)
r = ln(55M/52M)/6
r = 0.009348

----
Solve for [email protected]
t = 2003 - 1994 = 9

[email protected] = [email protected] * e^(rt)
[email protected] = 52M * e^(0.009348*9)
[email protected] = 56,564,292.9

approximately 57M.

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The probability that all of the next ten customers who want this racket can get the version they want from current stock is 0.821

<h3>How to solve?</h3>

Given: currently has seven rackets of each version.

Then the probability that the next ten customers get the racket they want is P(3≤X≤7)

Note that If less than 3 customers want the oversize, then more than 7 want the midsize and someone's going to miss out.

X ~ Binomial (n = 10, p = 0.6)

P(3≤X≤7) = P(X≤7) - P(X≤2)

From Binomial Table:

= 0.8333 - 0.012