The population of the city in 2016 is 603,934
What is Exponential model to estimate any value?
It tells what will be the value after given time,
Exponential function, F(x) = a(b)ˣ
here, a = initial value
b = 1 + r
and r = rate of change.
F(x) = a ( 1 + r )^x
We have x is in time and rate of change we will find using the data given:
change = Δpopulation / Δtime
Let Δtime = 3 [ from 1992 to 1995 ]
then, Δpopulation = 24,735
Now ,Rate of change (in %) = (24735 / 955242) x 100 = 0.259% per 3 year
per 1 year → r = 0.259/ 3
r = 0.08
t = 24 i.e. [ 2016 - 1992 ]
a = 95,242
Exponential function F(t) = a ( 1 + r )^t
F(24) = 95,242 ( 1 + 0.08 )^24
F(24) = 95,242 (1.08)^24
F(24) = 603,934
Hence, The population of the city in 2016 is 603,934.
Learn more about "Exponential Function" from here: https://brainly.com/question/11487261
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