Answer:
Part A) The price of fuel A is decreasing by a percentage of 2% per month
Part B) Fuel B recorded a greater percentage change price over the previous month (5%) than the Fuel A (2%)
Step-by-step explanation:
Part A: Is the price of fuel A increasing or decreasing and by what percentage per month?
we know that
The equation of the exponential function is equal to
where
x ---> the number of months
f(x) ----> is the price in dollars
a ----> is the initial value or y-intercept
r ---> is the percent rate of change
we have
so
Find the value of r
The rate of change is negative
That means ----> Is a exponential decay function
therefore
The price of fuel A is decreasing by a percentage of 2% per month
Part B) The table below shows the price g(m), in dollars, of fuel B after m months.
we know that
The exponential function is equal to
where
m ---> the number of months
g(m) ----> is the price in dollars
a ----> is the initial value or y-intercept
r ---> is the percent rate of change
<em>Find the value of r</em>
For m=1, g(m)=4.19
substitute
----> equation A
For m=2, g(m)=3.98
substitute
----> equation B
Divide 3.98 by 4.19
simplify
Is negative because is a decreasing function
so
The price of fuel B is decreasing by a percentage of 5% per month
therefore
Fuel B recorded a greater percentage change price over the previous month (5%) than the Fuel A (2%)