Suppose the Rate of Change of Total Personal Income I

question 28

Multiple Choice

Suppose the rate of change of total personal income I in the United States (in billions of dollars) can be modeled by , where t is the number of years past 1960. The value of are approximately $19,312.13 and $1,162.81 respectively which are been evaluated by using the arbitrary constant that is been evaluated by using the data point from 1960. Interpret . Round your answer to two decimal places, if necessary. ​

• A) Means that the model predicts that in 2020, the total personal income is predicted to be $19,312.13 billion dollars and will be decreasing at a rate of $1,162.81 billion per year.
• B) Means that the model predicts that in 2020, the total personal income is predicted to be $1,162.81 billion dollars and will be increasing at a rate of $19,312.13 billion per year.
• C) Means that the model predicts that in 2020, the total personal income is predicted to be $19,312.13 billion dollars and will be increasing at a rate of $1,162.81 billion per year.
• D) Means that the model predicts that in 2020, the total personal income is predicted to be $19,312.13 billion dollars and will be increasing at a rate of $1,162.81 billion per month.
• E) Means that the model predicts that in 2020, the total personal income is predicted to be $1,162.81 billion dollars and will be decreasing at a rate of $19,312.135 billion per month.

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Definitions:

Social Loafing

Each person’s tendency to exert less effort in a group because of reduced accountability for individual effort.

Group Polarization

The tendency for a group's prevailing attitudes or beliefs to become more extreme after discussing them as a group.

Social Facilitation

Improvement in an individual’s performance because of the presence of others.

Solomon Asch

A psychologist best known for his research on group conformity and social pressure influencing individuals' judgments and perceptions.