Final answer:
The number 5000 in the ant population equation denotes the initial number of ants, while 4/5 signifies a monthly population decrease of 20%.
Step-by-step explanation:
In the equation p = 5000(4/5)^m representing the population of a colony of ants, the number 5000 represents the initial population of ants when the scientists began their observations. The fraction 4/5 is the growth factor which indicates the population changes to 4/5 of its size each month. Specifically, this could represent a decline in population, as the growth factor is less than 1, meaning the population is decreasing by 20% each month (since 1 - 4/5 = 1/5 or 20%). Each month, you raise the growth factor (4/5) to the power of m, which represents the number of months that have passed, and then multiply by the initial population to get the current population.