Question

The yearly capita consumption of whole milk in the US reached a peak of 40 gallons in 1945. It has been steadily decreasing at a rate of about 2.8% per year. How do you find an exponential model M(t) for capita whole milk consumption?

Answer 1

Answer:

C1 = C0 * .972

C2 =  C1 * .972  = C0 * .972^2

Or in general Cn = C0 * .972^n

Then in 2019  C = 40 * .972^74 = 4.89

Note:   (C1 - C0) / C0 = -.028

             C1 - C0 = -.028 C0

              C1 = .972 C0