The number of online buyers in Western Europe grew steadily over the past decade.

Question

The number of online buyers in Western Europe grew steadily over the past decade. The function

P(t) = 28.9 + 14.73 ln t  (1 ≤ t ≤ 7)

gives the number of online buyers as a percent of the total population, where t is measured in years, with t = 1 corresponding to 2001.

(a)     What was the percentage of online buyers in 2006? (Round your answer to two decimal places.)

(b)     How fast was it changing in 2006? (Round your answer to two decimal places.)

Answer 1

a) To find percentage of online buyers in 2006, plug into equation for p(t=6)

b) dP/dt = 14.73/t This is the rate of change per year. Plug in t = 6

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