In order to model this situation, let's use the following exponential equation:
![y=a\cdot b^x](https://img.qammunity.org/2023/formulas/mathematics/high-school/6has3k4sb3pm3ew4419r8bw5p19fprxq7e.png)
Since the initial population is 120, we have a = 120, and since the number of fish decreases by 1/4 each year, the value of b is 3/4.
So the equation is:
![y=120\cdot((3)/(4))^x](https://img.qammunity.org/2023/formulas/mathematics/college/xw8mbocul5nza9ql147lvdm9hqcxdclsru.png)
For x = 1, the value of y is equal to:
![y=120\cdot(3)/(4)=90](https://img.qammunity.org/2023/formulas/mathematics/college/ymz87zk4p899x56g0n2cxhfao8kqlg6t0z.png)
Looking for the graph with the points (0, 120) and (1, 90), we have the bottom left graph as the correct one.