You have to use the average rate of growth and not any specific value. It's not expected that you will have an exponential curve that passes through all points.
Hello, I am really struggling on question #23. I can't seem to find the appropriate Exponential Function that best fits this data.
The general formula is f(x) = a * b ^ x , where a is the first term, b is a the growth factor and x is the variable.
Let x represent time after 1950.
If a = 132 459
f(x) = 253 539
x = 20? //This part I am not sure about
So my attempt would look like this:
253 539 = 132 459 ( b ) ^ 20
b = 1.03299
However, f(x) = 132 459 ( 1.03299 ) does not satisfy the year at 1994, x = 44.
Where did I go wrong?