The number of online buyers in Western Europe is expected to grow steadily in the coming years. The function below for 1 t 9, gives the estimated buyers as a percent of the total population, where t is measured in years, with t = 1 corresponding to 2001.
P(t) = 27.6 + 14.1 ln(t)
(a) What was the percent of online buyers in 2001 (t = 1)?
%
How fast was it changing in 2001?
%/yr
(b) What is the percent of online buyers expected to be in 2008 (t = 8)?
%
How fast is it expected to be changing in 2008?
%/yr