Problem 6
Question
There is a suggestion that the world human population is growing exponentially. Shown below are the human population numbers in billions of people for the decades \(1940-2010\). \(\begin{array}{lrrrrrrrr}\text { Year } & 1940 & 1950 & 1960 & 1970 & 1980 & 1990 & 2000 & 2010 \\ \text { Index, } t & 0 & 1 & 2 & 3 & 4 & 5 & 6 & 7 \\ \text { Human Population } \times 10^{6} & 2.30 & 2.52 & 3.02 & 3.70 & 4.45 & 5.30 & 6.06 & 6.80\end{array}\) 1\. Test the equation $$ P_{t}=2.21 .19^{t} $$ against the data where \(t\) is the time index in decades after 1940 and \(P_{t}\) is the human population in billions. 2\. What percentage increase in human population each decade does the model for the equation assume? 3\. What world human population does the equation predict for the year \(2050 ?\)
Step-by-Step Solution
VerifiedKey Concepts
Population Modeling
For our exercise, the population is predicted using the equation \(P_{t} = 2.21 \times 1.19^{t}\). Here, \(P_{t}\) represents the population in billions at time \(t\) decades after 1940. The base value \(2.21\) stands for the population in 1940, while 1.19 is the growth factor indicating a \(19\%\) increase each decade.
This simple equation allows us to track the exponential pattern of human population growth. By adjusting the variable \(t\), we can observe how well the model fits actual historical data and make predictions about the future, effectively enabling us to 'see' the population trend and deviations from it over this 70-year span. Understanding these principles is key to solving and applying such mathematical models in real-world scenarios.
Growth Rate Calculation
The equation used, \(P_{t} = 2.21 \times 1.19^{t}\), includes a base of 1.19. This figure derives from \(1 + r\), where 1 accounts for the current population, and the additional \(0.19\) represents the \(19\%\) growth rate. Consequently,
- The growth rate per decade is \(19\%\), indicating that with each passing decade, the population is expected to be \(19\%\) larger than the previous decade.
Predictive Analysis
By using the equation \(P_{t} = 2.21 \times 1.19^{t}\), we can extend past trends into future decades. For predicting the year 2050, we calculate \(t = 11\) because 2050 is 11 decades from the base year, 1940. Inserting this into the equation gives us:
- \(P_{11} = 2.21 \times 1.19^{11} \approx 12.55 \text{ billion}\).