Given:
Giant panda population in 2014 = 1864
The giant panda population in China is increasing at a rate of 1.5% each year.
To find:
The function that models the panda population since 2014.
Solution:
Since population of giant panda is increasing, therefore the function is the exponential growth model.
The general exponential growth model is:
[tex]P(t)=P_0(1+r)^t[/tex]
Where, [tex]P_0[/tex] is the initial population, r is the growth rate in decimal and t is the time period.
Putting [tex]P_0=1864,r=0.015[/tex], we get
[tex]P(t)=1864(1+0.015)^t[/tex]
[tex]P(t)=1864(1.015)^t[/tex]
Where, t is the number of years since 2014.
Therefore, the required exponential growth model is [tex]P(t)=1864(1.015)^t[/tex].
