Math Problem Statement

In 2009, 2012, and 2015, the number (in millions) of smart phones sold in the world was 165.4, 673.1, and 1416.9, respectively. Let t represent time in years since 2009, and let S represent the number of smart phones sold in millions. Determine M, A, and k for a logistic model, S(t) = M/1+Ae^-kt, that fits the given data points. Approximate A and k to three decimal place and M to one decimal place

Solution

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Math Problem Analysis

Mathematical Concepts

Logistic Growth
Exponential Decay
Algebra

Formulas

Logistic Growth Model: S(t) = M / (1 + A * e^(-kt))
Solving exponential equations

Theorems

Logistic Growth Theory
Exponential Function Behavior

Suitable Grade Level

Grades 10-12 and College Level