Suppose the rate of change of total personal income I in the United States (in billions of dollars) can be modeled by , where t is the number of years past 1960. The value of are

Question

approximately $19,312.13 and $1,162.81 respectively which are been evaluated by using the arbitrary constant that is been evaluated by using the data point from 1960. Interpret . Round your answer to two decimal places, if necessary.

?

Year

1960

1970

1980

1990

1999

2000

2002

Personal income

319.3

766.6

1,577.7

3,048.3

5,371.0

5,714.4

6,465.7

 



A.  means that the model predicts that in 2020, the total personal income is predicted to be $19,312.13 billion dollars and will be decreasing at a rate of $1,162.81 billion per year.
B.  means that the model predicts that in 2020, the total personal income is predicted to be $1,162.81 billion dollars and will be increasing at a rate of $19,312.13 billion per year.
C.  means that the model predicts that in 2020, the total personal income is predicted to be $19,312.13 billion dollars and will be increasing at a rate of $1,162.81 billion per year.
D.  means that the model predicts that in 2020, the total personal income is predicted to be $19,312.13 billion dollars and will be increasing at a rate of $1,162.81 billion per month.
E. means that the model predicts that in 2020, the total personal income is predicted to be $1,162.81 billion dollars and will be decreasing at a rate of $19,312.135 billion per month.

Answer 1

Answer: C