/*! This file is auto-generated */ .wp-block-button__link{color:#fff;background-color:#32373c;border-radius:9999px;box-shadow:none;text-decoration:none;padding:calc(.667em + 2px) calc(1.333em + 2px);font-size:1.125em}.wp-block-file__button{background:#32373c;color:#fff;text-decoration:none} Problem 34 A country's cumulative exports \... [FREE SOLUTION] | 91Ó°ÊÓ

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A country's cumulative exports \(y(t)\) (in millions of dollars) grow in proportion to its average size \(y / t\) over the last \(t\) years, plus a fixed growth rate \((10),\) and so satisfy $$ \begin{aligned} y^{\prime} &=\frac{1}{t} y+10 \\ y(1) &=8 \end{aligned} $$ a. Solve this differential equation and initial condition to find the country's cumulative exports after \(t\) years. b. Use your solution to find the country's cumulative exports after 5 years.

Short Answer

Expert verified
The country's cumulative exports after 5 years are approximately 80.45 million dollars.

Step by step solution

01

Rewrite the Differential Equation

The given differential equation is \( y' = \frac{1}{t} y + 10 \). Identify this as a linear first-order differential equation with the standard form \( y' + P(t)y = Q(t) \), where \( P(t) = -\frac{1}{t} \) and \( Q(t) = 10 \).
02

Find the Integrating Factor

Calculate the integrating factor \( \mu(t) = e^{\int P(t) dt} \). Since \( P(t) = -\frac{1}{t} \), we have\[\mu(t) = e^{-\int \frac{1}{t} dt} = e^{\ln|t|} = t^{-1}.\]
03

Simplify the Equation with Integrating Factor

Multiply the entire differential equation by the integrating factor:\[t^{-1} y' + t^{-1} \frac{1}{t} y = t^{-1} 10.\]This simplifies to\[\frac{d}{dt}(t^{-1} y) = 10t^{-1}.\]
04

Integrate Both Sides

Integrate both sides with respect to \( t \):\[\int \frac{d}{dt}(t^{-1} y) \, dt = \int 10t^{-1} \, dt.\]This gives:\[t^{-1} y = 10 \ln|t| + C.\]
05

Solve for y(t)

Rearrange the equation to solve for \( y(t) \):\[y = 10t \ln|t| + Ct.\]
06

Use Initial Condition

Apply the initial condition \( y(1) = 8 \) to find \( C \):\[8 = 10(1) \ln|1| + C(1).\]Since \( \ln|1| = 0 \), it simplifies to \( 8 = C \). Thus, \( C = 8 \).
07

Write the Solution for y(t)

Substitute \( C \) back into the equation for \( y(t) \):\[y(t) = 10t \ln|t| + 8t.\]
08

Calculate y(5)

Now, find \( y(5) \) by substituting \( t = 5 \) into the equation:\[y(5) = 10 \times 5 \times \ln|5| + 8 \times 5.\]Calculate \( \ln|5| \approx 1.609 \), so:\[y(5) = 50 \times 1.609 + 40 = 80.45.\]

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Key Concepts

These are the key concepts you need to understand to accurately answer the question.

Integration
Integration is a fundamental concept in calculus, which essentially involves finding the integral of a function. When we talk about the integration in the context of solving differential equations, we are looking to find a function from its derivative. This process helps us understand how quantities change over time.
  • The operation of integration can be seen as the reverse process of differentiation.
  • To solve a differential equation like the one in the exercise, integration helps us find a general equation that describes the behavior of a particular system or function.
In our original step-by-step solution, **integration** is prominently used to evaluate the relationship between time and cumulative exports. We identified the integrating factor \( \mu(t) = e^{-\int \frac{1}{t} dt} = t^{-1} \) to transform the differential equation into a form that is easier to solve.After simplifying the equation with the integrating factor,
  • we were left with \( \frac{d}{dt}(t^{-1} y) = 10t^{-1} \).
  • Integrating both sides with respect to \( t \) led to the expression \( t^{-1} y = 10 \ln|t| + C \).
This step allowed us to manipulate the equation to eventually find a solution for \( y(t) \). Integration is thus a crucial tool for solving such problems, connecting the dots between change rates and function values.
Initial Value Problem
An initial value problem is a type of differential equation that not only contains a derivative, but also provides a specific condition called an "initial value". This condition is crucial as it allows us to find a unique solution that fits the problem's requirements.
  • In our exercise, the initial value is given by \( y(1) = 8 \).
  • This tells us that, when \( t = 1 \) (at the start of the scenario), the cumulative export value is 8 million dollars.
The role of the initial value in differential equations can be compared to setting a starting point on a graph, from which the behavior of the function is determined.Once we integrated and reached an expression for \( y \, \), we substituted the initial condition into it:
  • Using \( y(1) = 8 \), we plugged in these values to solve for \( C \), ensuring our solution matched the initial condition.
  • Thus, we found \( C = 8 \), completing the specific solution \( y(t) = 10t \ln|t| + 8t \).
Initial value problems combine calculus with real-world information, providing a practical method to model and solve dynamic systems.
Exponential Growth
Exponential growth is characterized by the rate of change of a quantity being proportional to the current amount of the quantity itself. This concept is often associated with processes that grow rapidly over time, appearing in fields ranging from economics to biology.
  • In the context of the exercise, the exports grow at a rate proportional to their average size, plus a fixed growth rate \( (10) \).
  • This adds an exponential growth component to the linear differential equation \( y' = \frac{1}{t} y + 10 \).
Exponential growth can cause solutions to differential equations to rise significantly as time progresses, depending on the components involved.When solving the exercise and applying the integration method, we eventually derived a formula \( y(t) = 10t \ln|t| + 8t \).
  • The term \( 10 \ln|t| \) introduces a logarithmic element to the growth, which contrasts with a pure exponential growth scenario but still serves as a model for significant increase over time.
  • The primary driver behind this growth in the exports is the added fixed rate, highlighting how single factors can substantially influence complex systems.
Understanding how exponential growth works allows us to anticipate future changes in a system and plan accordingly, making it an indispensable concept in mathematical modeling.

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