Question

If the cost of a movie ticket now averages $11.50, interpret the meaning of the expression


`11.50(1.083) ^(t)`

Answer 1

Given that the cost of movies tickets averages $11.50, the expression given by:
11.50(1.083)^t
implies that the rate of growth of the ticket average is constant and it is growing exponentially with time,t. This rate of growth is 1.083. The initial amount of the price is given by the averages which is $11.50. From the expression it implies that we can calculate the cost of ticket at a future time, t. where t=1,2,3,4.....