APFIVE Exponential Growth Model Interpretation
A researcher collected data on cell phone usage and used technology to perform exponential regression, obtaining the model $$y = 12.5(1.18)^x$$ where $$x$$ represents years since 2010 and $$y$$ represents average daily usage in hours. What does the base 1.18 indicate about the growth pattern?
A
Growth factor of 118%
B
18% annual increase
C
1.18 hours added yearly
D
Usage doubles every 1.18 years
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