To model the declining population of Lime County, we use the exponential equation in the form \( y = a(b)^x \).
Here, we need to identify the values for \( a \) and \( b \):
-
\( a \) is the initial population when Leslie moved there, which is \( 711,500 \).
-
\( b \) is the decay factor. To find \( b \), we first calculate the rate of decline. The population declined from \( 711,500 \) to \( 697,270 \) over one year.
To find the decay rate:
\[
\text{Decline} = 711500 - 697270 = 1230
\]
Next, we calculate the new population as a fraction of the original:
\[
b = \frac{\text{New Population}}{\text{Initial Population}} = \frac{697270}{711500} \approx 0.98094
\]
Thus, rounding to an appropriate decimal, we can use \( b \approx 0.981 \).
Putting this together, the exponential equation modeling the population after \( x \) years is:
\[
y = 711500(0.981)^x
\]
So, the final equation is:
\[
y = 711500(0.981)^x
\]