Interpreting Parameters in Linear/Exponential Models
Algebra · Flashcards · Application
ALGEBRA · FLASHCARDS
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QUESTION
Identify the meaning of
a
=
2000
a = 2000
a
=
2000
in
P
(
t
)
=
2000
(
1.05
)
t
P(t) = 2000(1.05)^t
P
(
t
)
=
2000
(
1.05
)
t
for a population model.
QUESTION
Identify the growth/decay factor for
y
=
120
(
0.85
)
t
y = 120(0.85)^t
y
=
120
(
0.85
)
t
in context.
QUESTION
What does
b
=
1.01
b = 1.01
b
=
1.01
mean in
y
=
a
b
t
y = a \, b^t
y
=
a
b
t
in terms of percent change per time unit?
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ANSWER
1
%
1\%
1%
growth per time unit. Convert to percent:
(
1.01
−
1
)
×
100
%
=
1
%
(1.01 - 1) \times 100\% = 1\%
(
1.01
−
1
)
×
100%
=
1%
growth.
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