Question

8. Use the table below to answer the question that follow.

Years after 1960     0     10     15     20     25
population
in thousands     120     132     150     240     370
a. Find the best fit exponential model for the population of the town.
b. Find the SSE and average error for your model in part a.
c. Predict the population in the year 2000.
d. Predict when the population will reach 1 million (that is 1000 thousands).
e. Based on your model what is the annual growth rate for this population?

9. Rank the following accounts in order from best to worst (with respect to the consumer):
a. 6.5% compounded quarterly
b. 6.47% compounded weekly
c. 6.45% compounded continuously

Bonus: A local plant store sells a grass plug that doubles in size every night. Steve bought one of the grass plugs and planted it in his back yard. Thirty days later his entire back yard was covered in new grass. If steve had bought two of the grass plugs instead of one how many days would it have taken to cover his back yard in new grass?