an internet service provider had a total of 17,156 customers last year. They gained a net of 1,802 customers this year. they hope to reach at least 35,000 customers in 10 years. Estimate the number of customers they need to reach their goal. They need approximately ____ more customers to reach their goal
16,000
200
$500
5
$300
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an internet service provider had a total of 17,156 customers last year. They gained a net of 1,802 customers this year. they hope to reach at least 35,000 customers in 10 years. Estimate the number of customers they need to reach their goal.
They need approximately ____ more customers to reach their goal
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To estimate the number of customers that the internet service provider needs to reach their goal, we will calculate the average annual growth rate and project it over the next 10 years.
1. Calculate the average annual growth rate:
Step 1: Calculate the net customer gain per year.
Net customer gain per year = Total current customers - Total customers last year
= 17,156 customers - 1,802 customers
= 15,354 customers
Step 2: Calculate the average annual growth rate.
Average annual growth rate = Net customer gain per year / Number of years
= 15,354 customers / 1 year
= 15,354 customers per year
2. Project the average annual growth rate over the next 10 years:
Projected customers in 10 years = Total current customers + (Average annual growth rate * Number of years)
= 17,156 customers + (15,354 customers/year * 10 years)
= 17,156 customers + 153,540 customers
= 170,696 customers
3. Determine the additional customers needed to reach the goal:
Additional customers needed = Goal - Projected customers in 10 years
= 35,000 customers - 170,696 customers
≈ 164,304 customers
Therefore, the internet service provider needs approximately 164,304 more customers to reach their goal of 35,000 customers in 10 years.
To estimate the number of customers the internet service provider needs to reach their goal in 10 years, we can calculate the average annual increase in customers.
Total customers gained in 1 year = 17,156 + 1,802 = 18,958
Average annual increase in customers = Total customers gained in 1 year / Number of years = 18,958 / 10 = 1,895.8 (approximately)
To reach their goal of 35,000 customers, they need:
35,000 - 17,156 = 17,844 more customers
So, the internet service provider needs approximately 17,844 more customers to reach their goal.