The price of gasoline increasing by 1 cent per week. Linear or exponential ? The

Question

The price of gasoline increasing by 1 cent per week. Linear or exponential ? The price of gasoline increasing by 1 cent per week. Linear or exponential ? 17. Use the Law of Large Numbers to answer the following question: For the students at one college the expected value for "num ber of siblings" is 1. on? (3 pts) Which of the following statements is a reasonable concius A. If a student is selected at random, the number of siblings for that student is 1 B. If 4 students are selected at random, the average number of siblings for the 4 students will be 1. C. If a have no siblings. student selected at random has 2 siblings, the next student selected will D. If 100 students are selected at random, the average number of siblings for the 100 students will be close to 1. Answer

Explanation / Answer

Price of gasoline is increasing 1% per week, in the starting price was x, then next week it will be x(1+0.01)=1.01x. Then after the second week, it will be (1.01x)*(1+0.01)=(1.01^2)*x....and so on. After the nth week it will be (1.01^n)*x. So, of course, this is exponential.

Since it is given that the students in a college have 1 sibling on average. This does not say it is necessary that each will have 1 sibling or while taking survey there was any kind of order to have any specific number of siblings. So, this cuts A and C option. That left us with B and D which are almost similar to each other except for the number. Now, since initially the statement was for the whole college so the average might not get any close to 1 at all with only 4 students, while if the number is increased it will get closer to 1. This makes option D to be correct.

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