Question

A factory produces 1,250,000 toys each year. The number of toys is expected to increase by about 150% per year. Which model can be used to find the number of toys being produced, n (in millions), in t years?

Answer 1

Answer: Our required model is $n=1250000(1.15)^t$

Step-by-step explanation:

Since we have given that

Number of toys = 1,250,00

Every year is expected to increase by about 150% pr year.

So, initial value = 1250,000

Rate of change = 150%

Let the number of time = t years.

So, we will use "Compound interest":

$n=P(1+\dfrac{r}{100})^t\\\\n=1250000(1+\dfrac{150}{100})^t\\\\n=1250000(1+1.50)^t\\\\n=1250000(1.15)^t$

Hence, our required model is $n=1250000(1.15)^t$

Answer 2

Answer:

n=1.25(2.5)^t

Step-by-step explanation:

According to the given statement a factory produces 1,250,000 toys each year

So in n(millions) the initial production = 1.25 million

The increasing rate = 150% = 150/100 = 1.5

Now according to the conditions we have a function:

n = n0(1+r)^t

where n0 is the initial production = 1.25

r = increasing rate =1.5

t = time

Now substitute the values in the function

n=1.25(1+1.5)^t

n=1.25(2.5)^t

Thus the model which can be used to find the number of toys being used is n=1.25(2.5)^t ....