Indoor Water Park had a declining attendance from 2000 to 2005. The attendance in 2000 was 18,000. Each year for the next 5 years, the attendance decreased...

Question

Indoor Water Park had a declining attendance from 2000 to 2005. The attendance in 2000 was 18,000. Each year for the next 5 years, the attendance decreased by 5.5%.

 

a) write a function that models the attendance since 2000.

 

b) what was the attendance in 2005?

Answer 1

A decrease of 5.5% (0.055) means that 94.5% (0.945) remained.

 

f(t) = a₁b^t, where a₁ = starting value, b = rate of change, t = time

 

f(5) = 18000(0.945)⁵ 

f(5) ≈ 18000(0.7536)

f(5) ≈ 13565