Quantitative Reasoning for Population Declines
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A small town is in a population decline. The town manager has discovered that the town's population is decreasing exponentially at 6% annually. Based on this trend, the town population has decided that if the population falls to 1,000 or less, they cannot pay the town manager's salary.
A) If the 2003 population is 12,345 people, at what point will the town have less than 1,000 people? [Hint: use A = Pe-rt and solve for ¿t¿].
B) Is the town manager¿s job safe?
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Solution Summary
The solution examines quantitative reasoning for population declines.
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(a)
Solution:
Given P = 12,345, r = 0.06
A = 12345*e^(-0.06t)
We have to ...
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