How do you write an exponential function to model each situation & solve given whole milk consumption in the U.S. has decreased by 4% annually since 1985. Each person consumed 13.6 gallons of whole milk in 1985. Predict whole milk consumption in 2000?
Annual consumption in 2000
We are told that the annual consumption decreases by 4% each year since 1985 and that annual consumption in that year was 13.6 gallons.
If we assume the process is continious, then:
Note that if the process were discrete and the decline was computed once per year (i.e
The more frequently the decline is computed each year (i.e. the greater