A company has manufactured certain objects and has printed a serial number on each manufactured object. The serial numbers start
at 1 and end at N, where N is the number of objects that have been manufactured. One of these objects is selected at random, and the serial number of that object is 888. What is the method of moments estimate of N
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Answer:
Step-by-step explanation:
Given that in 1987, the population of country A was estimated at 87 million people, with an annual growth rate of 3.5%
Thus the equation for population for country A would be
The 1987 population of country B was estimated at 243 million with an annual growth rate of 0.6%.
So equation for population for country B would be
where t = time in years and P in millions
a) P(A) = 2*87 when
Take log and solve
ln 2 = 0.005 t
t = 138.63
Thus after 138 years population will double for A
b) P(A) = P(B) when
Approximately after 35.5 years the populations of both countries would be equal.