Question

Use the table to answer the question.The price of a particular brand of shoes has decreased over the past four years, as listed in the table.Year01234Price$100$97$94.09$91.27$88.53Determine whether the decrease in price can be modeled by a linear decay function or an exponential decay function, and why.(1 point)Responsesexponential decay function; the price decreases by 0.97 per year, which is a constant percent rate of changeexponential decay function; the price decreases by 0.97 per year, which is a constant percent rate of changeexponential decay function; the price decreases by 97% per year, which is a constant percent rate of changeexponential decay function; the price decreases by 97% per year, which is a constant percent rate of changeexponential decay function; the price decreases by 3% per year, which is a constant percent rate of changeexponential decay function; the price decreases by 3% per year, which is a constant percent rate of changeexponential decay function; the price decreases by $3 per year, which is a constant percent rate of change

Answer 1

Exponential decay; the price decreases by 3% each year (P(t) = 100(0.97)^t), because each year the price is multiplied by 0.97 (a constant percent rate).