# Suppose you purchase an iphoneX for $720 when it initially launched. The resale value decreases 3.08% each month since launch. Write an exponential function that models this situation, where t is the number of months after launch. Call it P(t). (round to the nearest thousandth.) Question Exponential models asked 2021-02-08 Suppose you purchase an iphoneX for$720 when it initially launched. The resale value decreases 3.08% each month since launch. Write an exponential function that models this situation, where t is the number of months after launch. Call it P(t). (round to the nearest thousandth.)

2021-02-09
Given,
Suppose you purchase an iPhone X for $720 when it initially launched. The resale value decreases 3.08% each month since launch. So, the price of the iphoneX after 1 month $$=((100-3.02)/100)*720$$ =0.9692*720 Again,the price of the iphoneX after 2 months $$=((100-3.08)/100)*0.9692*720$$ =0.9692^2*720 Therefore, the price of the iphone X after t month $$=0.9692^t*720$$ $$=0.97^t*720$$ $$p(t)=0.97^t*720$$ ### Relevant Questions asked 2020-11-01 Suppose you purchase an iphoneX for$720 when it initially launched. The resale value decreases 3.08% each month since launch. Write an exponential function that models this situation, where t is the number of months after launch. Call it P(t). (round to the nearest thousandth.)
The number of users on a website has grown exponentially since its launch. After 2 months, there were 300 users. After 4 months there were 30000 users. Find the exponential function that models the number of users x months after the website was launched.
The half - life of a certain radioactive material is 85 days. An initial amount of the material has a mass of 801 kg Write an exponential function that models the decay of this material. Find how much radioactive material remains after 10 days. Round your answer to the nearest thousandth.
The half - life of a certain radioactive material is 85 days. An initial amount of the material has a mass of 801 kg Write an exponential function that models the decay of this material. Find how much radioactive material remains after 10 days. Round your answer to the nearest thousandth.
Several models have been proposed to explain the diversification of life during geological periods. According to Benton (1997), The diversification of marine families in the past 600 million years (Myr) appears to have followed two or three logistic curves, with equilibrium levels that lasted for up to 200 Myr. In contrast, continental organisms clearly show an exponential pattern of diversification, and although it is not clear whether the empirical diversification patterns are real or are artifacts of a poor fossil record, the latter explanation seems unlikely. In this problem, we will investigate three models fordiversification. They are analogous to models for populationgrowth, however, the quantities involved have a differentinterpretation. We denote by N(t) the diversification function,which counts the number of taxa as a function of time, and by rthe intrinsic rate of diversification.
(a) (Exponential Model) This model is described by $$\displaystyle{\frac{{{d}{N}}}{{{\left.{d}{t}\right.}}}}={r}_{{{e}}}{N}\ {\left({8.86}\right)}.$$ Solve (8.86) with the initial condition N(0) at time 0, and show that $$\displaystyle{r}_{{{e}}}$$ can be estimated from $$\displaystyle{r}_{{{e}}}={\frac{{{1}}}{{{t}}}}\ {\ln{\ }}{\left[{\frac{{{N}{\left({t}\right)}}}{{{N}{\left({0}\right)}}}}\right]}\ {\left({8.87}\right)}$$
(b) (Logistic Growth) This model is described by $$\displaystyle{\frac{{{d}{N}}}{{{\left.{d}{t}\right.}}}}={r}_{{{l}}}{N}\ {\left({1}\ -\ {\frac{{{N}}}{{{K}}}}\right)}\ {\left({8.88}\right)}$$ where K is the equilibrium value. Solve (8.88) with the initial condition N(0) at time 0, and show that $$\displaystyle{r}_{{{l}}}$$ can be estimated from $$\displaystyle{r}_{{{l}}}={\frac{{{1}}}{{{t}}}}\ {\ln{\ }}{\left[{\frac{{{K}\ -\ {N}{\left({0}\right)}}}{{{N}{\left({0}\right)}}}}\right]}\ +\ {\frac{{{1}}}{{{t}}}}\ {\ln{\ }}{\left[{\frac{{{N}{\left({t}\right)}}}{{{K}\ -\ {N}{\left({t}\right)}}}}\right]}\ {\left({8.89}\right)}$$ for $$\displaystyle{N}{\left({t}\right)}\ {<}\ {K}.$$
(c) Assume that $$\displaystyle{N}{\left({0}\right)}={1}$$ and $$\displaystyle{N}{\left({10}\right)}={1000}.$$ Estimate $$\displaystyle{r}_{{{e}}}$$ and $$\displaystyle{r}_{{{l}}}$$ for both $$\displaystyle{K}={1001}$$ and $$\displaystyle{K}={10000}.$$
(d) Use your answer in (c) to explain the following quote from Stanley (1979): There must be a general tendency for calculated values of $$\displaystyle{\left[{r}\right]}$$ to represent underestimates of exponential rates,because some radiation will have followed distinctly sigmoid paths during the interval evaluated.
(e) Explain why the exponential model is a good approximation to the logistic model when $$\displaystyle\frac{{N}}{{K}}$$ is small compared with 1.
Case: Dr. Jung’s Diamonds Selection
With Christmas coming, Dr. Jung became interested in buying diamonds for his wife. After perusing the Web, he learned about the “4Cs” of diamonds: cut, color, clarity, and carat. He knew his wife wanted round-cut earrings mounted in white gold settings, so he immediately narrowed his focus to evaluating color, clarity, and carat for that style earring.
After a bit of searching, Dr. Jung located a number of earring sets that he would consider purchasing. But he knew the pricing of diamonds varied considerably. To assist in his decision making, Dr. Jung decided to use regression analysis to develop a model to predict the retail price of different sets of round-cut earrings based on their color, clarity, and carat scores. He assembled the data in the file Diamonds.xls for this purpose. Use this data to answer the following questions for Dr. Jung.
1) Prepare scatter plots showing the relationship between the earring prices (Y) and each of the potential independent variables. What sort of relationship does each plot suggest?
2) Let X1, X2, and X3 represent diamond color, clarity, and carats, respectively. If Dr. Jung wanted to build a linear regression model to estimate earring prices using these variables, which variables would you recommend that he use? Why?
3) Suppose Dr. Jung decides to use clarity (X2) and carats (X3) as independent variables in a regression model to predict earring prices. What is the estimated regression equation? What is the value of the R2 and adjusted-R2 statistics?
4) Use the regression equation identified in the previous question to create estimated prices for each of the earring sets in Dr. Jung’s sample. Which sets of earrings appear to be overpriced and which appear to be bargains? Based on this analysis, which set of earrings would you suggest that Dr. Jung purchase?
5) Dr. Jung now remembers that it sometimes helps to perform a square root transformation on the dependent variable in a regression problem. Modify your spreadsheet to include a new dependent variable that is the square root on the earring prices (use Excel’s SQRT( ) function). If Dr. Jung wanted to build a linear regression model to estimate the square root of earring prices using the same independent variables as before, which variables would you recommend that he use? Why?
1
6) Suppose Dr. Jung decides to use clarity (X2) and carats (X3) as independent variables in a regression model to predict the square root of the earring prices. What is the estimated regression equation? What is the value of the R2 and adjusted-R2 statistics?
7) Use the regression equation identified in the previous question to create estimated prices for each of the earring sets in Dr. Jung’s sample. (Remember, your model estimates the square root of the earring prices. So you must actually square the model’s estimates to convert them to price estimates.) Which sets of earring appears to be overpriced and which appear to be bargains? Based on this analysis, which set of earrings would you suggest that Dr. Jung purchase?
8) Dr. Jung now also remembers that it sometimes helps to include interaction terms in a regression model—where you create a new independent variable as the product of two of the original variables. Modify your spreadsheet to include three new independent variables, X4, X5, and X6, representing interaction terms where: X4 = X1 × X2, X5 = X1 × X3, and X6 = X2 × X3. There are now six potential independent variables. If Dr. Jung wanted to build a linear regression model to estimate the square root of earring prices using the same independent variables as before, which variables would you recommend that he use? Why?
9) Suppose Dr. Jung decides to use color (X1), carats (X3) and the interaction terms X4 (color * clarity) and X5 (color * carats) as independent variables in a regression model to predict the square root of the earring prices. What is the estimated regression equation? What is the value of the R2 and adjusted-R2 statistics?
10) Use the regression equation identified in the previous question to create estimated prices for each of the earring sets in Dr. Jung’s sample. (Remember, your model estimates the square root of the earring prices. So you must square the model’s estimates to convert them to actual price estimates.) Which sets of earrings appear to be overpriced and which appear to be bargains? Based on this analysis, which set of earrings would you suggest that Dr. Jung purchase?
Scientists are working with a sample of cobalt-56 in their laboratory. They begin with a sample that has 60 mg of cobalt-56, and they measure that after 31 days, the mass of cobalt-56 sample is 45.43 mg. Recall that the differential equation which models exponential decay is $$\frac{dm}{dt}=-km$$ and the solution of that differential equation if $$m(t)=m_0e^{-kt}$$, where $$m_0$$ is the initial mass and k is the relative decay rate.
a) Use the information provided to compute the relative decay rate k. Show your calculation (do not just cit a formula).
b) Use the information provided to determine the half-life of cobalt-56. Give your answer in days and round to the second decimal place. Show your calculation (do not just cite a formula).
c) To the nearest day, how many days will it take for the initial sample of 60mg of cobalt-56 to decay to just 10mg of cobalt-56?
d) What will be the rate at which the mass is decaying when the sample has 50mg of cobalt-56? Make sure to indicate the appropriate units and round your answer to three decimal places.
Scientists are working with a sample of cobalt-56 in their laboratory. They begin with a sample that has 60 mg of cobalt-56, and they measure that after 31 days, the mass of cobalt-56 sample is 45.43 mg. Recall that the differential equation which models exponential decay is $$\displaystyle{\frac{{{d}{m}}}{{{\left.{d}{t}\right.}}}}=-{k}{m}$$ and the solution of that differential equation if $$\displaystyle{m}{\left({t}\right)}={m}_{{0}}{e}^{{-{k}{t}}}$$, where $$\displaystyle{m}_{{0}}$$ is the initial mass and k is the relative decay rate.