Solve. -Use the Formula N = Iekt, Where N Is the the Number

question 22

Multiple Choice

Solve.
-Use the formula N = Iekt, where N is the number of items at time t, I is the initial amount, and k is a growth constant equal to the percent of growth (expressed in decimal form) per unit of time.
There are currently 70 million cars in a certain country, increasing by 3% annually. How many
Years will it take for this country to have 97 million cars? Round to the nearest year.

• A) 110 yr
• B) 4 yr
• C) 9 yr
• D) 11 yr

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Definitions:

Workforce

The collective group of individuals engaged in work within an organization, encompassing all employees and labor.

Part-Time Workforce

Employees who work less than full-time hours and often have variable schedules, contributing to labor flexibility and cost management.

Product Flexibility

The ability of a manufacturing system to easily adapt to changes in the production of various products in terms of type and quantity.

Production Processes

The methods or sequences of activities involved in the manufacture of goods, including all aspects from raw material handling to final product assembly.