Question

The equation y=123.1(1.065)* models the number of college students (in thousands) who studied abroad each year from 1998 through 2013. In this equation, y is the
number of students from a certain country studying abroad (in thousands) and x represents the number of years after 1998.
a. Estimate the number of students studying abroad in 2003.
b. Assuming this equation continues to be valid in the future, use this equation to predict the number of students studying abroad in 2018.

Answer 1

The estimate of the number of students studying abroad in 2003 is 169 and the estimate of the number of students studying abroad in 2018 is 433

a. Estimate the number of students studying abroad in 2003.

The function is given as:

y = 123(1.065)^x

Where x represents years from 1998 to 2013

2003 is 5 years from 1998.

This means that

x = 5

Substitute the known values in the above equation

y = 123(1.065)^5

Evaluate the exponent

y = 123 * 1.37008666342

Evaluate the product

y = 168.520659601

Approximate

y = 169

Hence, the estimate of the number of students studying abroad in 2003 is 169

b. Assuming this equation continues to be valid in the future, use this equation to predict the number of students studying abroad in 2018.

2018 is 20 years from 1998.

This means that

x = 20

Substitute the known values in the above equation

y = 123(1.065)^20

Evaluate the exponent

y = 123 * 3.52364506352

Evaluate the product

y = 433.408342813

Approximate

y = 433

Hence, the estimate of the number of students studying abroad in 2018 is 433

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