Question 1 a statistician estimates that a countrys, Ask an Expert

Economics

Question: 1. A statistician estimates that a country's population N is growing continuously and can be determined by the function
N = 3,620,000e0.02t

where t is the number of years after 2000. What is the population growth rate? Will population reach 10 million by the year 2050?

2. Assuming that oil stocks will continue to be depleted at the same continuous rate (in proportion to the amount remaining), the amount of oil remaining in an oilfield (B), measured in barrels of oil, has been estimated as B = 2,430,000,000e-0.09t

where t is the number of years after 2000. What proportion of the oil stock is extracted each year? How much oil will remain by 2020?

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M92291151

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