If 56% of people own a dog and 5 people are chosen at random, what is the probability that at least one person owns a dog?
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Answer: <em>(i) The unit rate at which online jewelry sales have been increasing is 1.33 billion dollars per year. </em>
<em>(ii) The online jewelry sales in 2019 will be 191.7 billion dollars.</em>
Step-by-step explanation:
In 2003, sales were approximately 2 billion dollars and in 2010, they were approximately 14.8 billion dollars.
(i) If is the number of years after 2003 and
is the amount of sales....
then the equation will be: , where
is the initial amount and
is the growth rate.
for 2003, and for 2010,
So, the two points in form of (x, y) will be: and
Now plugging these two points int the above equation....
Thus, the online jewelry sales have been increasing at a rate of 1.33 billion dollars per year.
(ii) As we got and
, so the equation will be now:
<u>For the year 2019, the value of</u> will be: (2019-2003) = 16
So plugging into the above equation, we will get.....
<em>(Rounded to the nearest tenth)</em>
Thus, the online jewelry sales in 2019 will be 191.7 billion dollars.