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Use a graphing utility to find an exponential regression formula f ( x ) and a logarithmic regression formula g ( x ) for the points ( 1.5 , 1.5 ) and ( 8.5 ,  8 .5 ) . Round all numbers to 6 decimal places. Graph the points and both formulas along with the line y = x on the same axis. Make a conjecture about the relationship of the regression formulas.

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Verify the conjecture made in the previous exercise. Round all numbers to six decimal places when necessary.

First rewrite the exponential with base e : f ( x ) = 1.034341 e 0 .247800x . Then test to verify that f ( g ( x ) ) = x , taking rounding error into consideration:

g ( f ( x ) ) = 4.035510 ln ( 1.034341 e 0 .247800x ) 0.136259 = 4.03551 ( ln ( 1.034341 ) + ln ( e 0 .2478 x ) ) 0.136259 = 4.03551 ( ln ( 1.034341 ) + 0 .2478 x ) 0.136259 = 0.136257 + 0.999999 x 0.136259 = 0.000002 + 0.999999 x 0 + x = x

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Find the inverse function f 1 ( x ) for the logistic function f ( x ) = c 1 + a e b x . Show all steps.

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Use the result from the previous exercise to graph the logistic model P ( t ) = 20 1 + 4 e 0.5 t along with its inverse on the same axis. What are the intercepts and asymptotes of each function?

Graph of P(t)=20/(1+40.5e^(-0.5t)) and P(t)=(ln(4)-ln((20/t)-1)/0.5.

The graph of P ( t ) has a y -intercept at (0, 4) and horizontal asymptotes at y = 0 and y = 20. The graph of P 1 ( t ) has an x - intercept at (4, 0) and vertical asymptotes at x = 0 and x = 20.

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Chapter review exercises

Exponential Functions

Determine whether the function y = 156 ( 0.825 ) t represents exponential growth, exponential decay, or neither. Explain

exponential decay; The growth factor, 0.825 , is between 0 and 1.

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The population of a herd of deer is represented by the function A ( t ) = 205 ( 1.13 ) t , where t is given in years. To the nearest whole number, what will the herd population be after 6 years?

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Find an exponential equation that passes through the points (2, 2 .25) and ( 5 , 60.75 ) .

y = 0.25 ( 3 ) x

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Determine whether [link] could represent a function that is linear, exponential, or neither. If it appears to be exponential, find a function that passes through the points.

x 1 2 3 4
f(x) 3 0.9 0.27 0.081
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A retirement account is opened with an initial deposit of $8,500 and earns 8.12 % interest compounded monthly. What will the account be worth in 20 years?

$ 42 , 888.18

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Hsu-Mei wants to save $5,000 for a down payment on a car. To the nearest dollar, how much will she need to invest in an account now with 7.5 % APR, compounded daily, in order to reach her goal in 3 years?

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Does the equation y = 2.294 e 0.654 t represent continuous growth, continuous decay, or neither? Explain.

continuous decay; the growth rate is negative.

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Suppose an investment account is opened with an initial deposit of $10,500 earning 6.25 % interest, compounded continuously. How much will the account be worth after 25 years?

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Graphs of Exponential Functions

Graph the function f ( x ) = 3.5 ( 2 ) x . State the domain and range and give the y -intercept.

domain: all real numbers; range: all real numbers strictly greater than zero; y -intercept: (0, 3.5);

Graph of f(x)=3.5(2^x)
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Graph the function f ( x ) = 4 ( 1 8 ) x and its reflection about the y -axis on the same axes, and give the y -intercept.

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The graph of f ( x ) = 6.5 x is reflected about the y -axis and stretched vertically by a factor of 7. What is the equation of the new function, g ( x ) ? State its y -intercept, domain, and range.

g ( x ) = 7 ( 6.5 ) x ; y -intercept: ( 0 ,  7 ) ; Domain: all real numbers; Range: all real numbers greater than 0.

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Questions & Answers

Ayele, K., 2003. Introductory Economics, 3rd ed., Addis Ababa.
Widad Reply
can you send the book attached ?
Ariel
?
Ariel
What is economics
Widad Reply
the study of how humans make choices under conditions of scarcity
AI-Robot
U(x,y) = (x×y)1/2 find mu of x for y
Desalegn Reply
U(x,y) = (x×y)1/2 find mu of x for y
Desalegn
what is ecnomics
Jan Reply
this is the study of how the society manages it's scarce resources
Belonwu
what is macroeconomic
John Reply
macroeconomic is the branch of economics which studies actions, scale, activities and behaviour of the aggregate economy as a whole.
husaini
etc
husaini
difference between firm and industry
husaini Reply
what's the difference between a firm and an industry
Abdul
firm is the unit which transform inputs to output where as industry contain combination of firms with similar production 😅😅
Abdulraufu
Suppose the demand function that a firm faces shifted from Qd  120 3P to Qd  90  3P and the supply function has shifted from QS  20  2P to QS 10  2P . a) Find the effect of this change on price and quantity. b) Which of the changes in demand and supply is higher?
Toofiq Reply
explain standard reason why economic is a science
innocent Reply
factors influencing supply
Petrus Reply
what is economic.
Milan Reply
scares means__________________ends resources. unlimited
Jan
economics is a science that studies human behaviour as a relationship b/w ends and scares means which have alternative uses
Jan
calculate the profit maximizing for demand and supply
Zarshad Reply
Why qualify 28 supplies
Milan
what are explicit costs
Nomsa Reply
out-of-pocket costs for a firm, for example, payments for wages and salaries, rent, or materials
AI-Robot
concepts of supply in microeconomics
David Reply
economic overview notes
Amahle Reply
identify a demand and a supply curve
Salome Reply
i don't know
Parul
there's a difference
Aryan
Demand curve shows that how supply and others conditions affect on demand of a particular thing and what percent demand increase whith increase of supply of goods
Israr
Hi Sir please how do u calculate Cross elastic demand and income elastic demand?
Abari
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Source:  OpenStax, Algebra and trigonometry. OpenStax CNX. Nov 14, 2016 Download for free at https://legacy.cnx.org/content/col11758/1.6
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