A City Was Incorporated in 2004 with a Population of 25,000

question 14

Essay

A city was incorporated in 2004 with a population of 25,000. It is expected that the population will increase at a rate of 2% per year. The population n years after 2004 is given by the sequence $P _ { n } = 25000 ( 1.02 ) ^ { n }$
(a) Find the first 5 terms of the sequence.
(b) Find the population in 2014.

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Definitions:

Population Mean

The average of all the values in a population.

Sampling Distribution

The distribution of a statistic (such as the mean) computed from a sample, over repeated sampling from the same population.

Variability

The extent to which data points differ from each other and from the mean of the data set.

Sampling Distribution

The distribution that indicates the probabilities of a given statistic, which is acquired from a random sample.