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ID: 3373637 • Letter: I
Question
Explanation / Answer
p = P_0*(1 + x)^twhen t = 0, p = 5000
5000 = P_0*1
when t = 9, p = 27000
27000 = 5000*(1 + x)^9
(1 + x)^9 = 27000/5000
1 + x = (27/5)^(1/9)
x = (27/5)^(1/9) - 1
x = 0.206
x = 20.6%
Define variables.
Let t denote the number of years after 1996.
Let P(t) denote the population (in thousands) after t years.
Let k denote the continuous growth rate.
Then a model for P(t) is
P(t) = P(0) e^(kt)
You are given P(0) = 5 and P(2005-1996) = P(9) = 27. Putting these in the model,
27 = 5e^(9k)
Solve this for k.
27/5 = e^(9k)
ln(27/5) = 9k
ln(27/5)/9 = k
To one decimal place, k = 0.2 (to more decimal places, it's 0.187377661)
You could get a general formula by following precisely the same steps as for the particular one:
P(t) = P(0) e^(kt)
P(t)/P(0) = e^(kt)
ln(P(t)/P(0)) = kt
ln(P(t)/P(0)) / t = k