Final answer:
In the function p(t), 80 represents the initial number of wolves in the southern isles, and 0.965 is the decay factor, signifying the rate at which the population decreases over time.
Step-by-step explanation:
In the function p(t) = 80 (0.965)t, the number 80 represents the initial number of wolves in the southern isles. It's the population size at the beginning of the observation or at time t = 0. The number 0.965 is the decay factor. This factor represents the rate at which the number of wolves is decreasing each time interval (usually annually). Since the decay factor is less than one, it indicates that the wolf population is decreasing, rather than increasing.
Therefore, the correct answer is option b) 80 represents the maximum number of wolves, and 0.965 represents the decay factor, as it indicates a decreasing wolf population over time.