Final answer:
The existence and uniqueness theorem guarantees that a solution exists for this initial value problem.
Step-by-step explanation:
The existence and uniqueness theorem states that for a first-order ordinary differential equation (ODE) y' = f(t,y) with initial condition y(1) = 1, a unique solution exists in a neighborhood of the initial condition if f(t,y) is continuous and satisfies the Lipschitz condition with respect to y.
In this case, we have the ODE dy/dt = (1 - t)|y|^(1/2) with the initial condition y(1) = 1. We can see that the function f(t,y) = (1 - t)|y|^(1/2) is continuous and satisfies the Lipschitz condition with respect to y in a neighborhood of the initial condition. Therefore, the existence and uniqueness theorem guarantees that a solution exists for this initial value problem.