The estimate of the number of students studying abroad in 2003 is 169 and the estimate of the number of students studying abroad in 2018 is 433
a. Estimate the number of students studying abroad in 2003.
The function is given as:
y = 123(1.065)^x
Where x represents years from 1998 to 2013
2003 is 5 years from 1998.
This means that
x = 5
Substitute the known values in the above equation
y = 123(1.065)^5
Evaluate the exponent
y = 123 * 1.37008666342
Evaluate the product
y = 168.520659601
Approximate
y = 169
Hence, the estimate of the number of students studying abroad in 2003 is 169
b. Assuming this equation continues to be valid in the future, use this equation to predict the number of students studying abroad in 2018.
2018 is 20 years from 1998.
This means that
x = 20
Substitute the known values in the above equation
y = 123(1.065)^20
Evaluate the exponent
y = 123 * 3.52364506352
Evaluate the product
y = 433.408342813
Approximate
y = 433
Hence, the estimate of the number of students studying abroad in 2018 is 433