What is "the government's population prediction method"?
We all know that with an exponential function, we can use it to approximate population. With a logistic function, it simply adds on a carrying capacity to the population (Where the population cannot grow anymore at a certain level):
L
---------
1 + Ce^(-kt)
where, L is the carrying capacity
t - time in years
and k/C are constants
I have a question asking me to compare the predicted population using the logistic function and compare it to the governments population prediction method.
All I could think of is to graph it to show the scatterplot discrepancies and to use percentage error to show how accurate/inaccurate the logistic function would fit into the real population the government has predicted.
(Of course, I have assumptions to be made on the function)
Now, I think the question given is really a high-order maths question.. so I thought if algebra can come into this?
Anyone have any idea to make the answer to this question a higher-order maths level? If its using algebra, please teach me. Cheers!
Any help would be very much appreciated~