Select the correct answer.
A survey reveals that the sales of smartphones is increasing considerably. The average annual sales of smartphones, in million units, n years after the survey is conducted is modeled by function p below. The parameter b is an unknown positive base.
p(n)=1.7×b^n
Which statement is true about this situation?
A.
When the survey was initially conducted, the average sales of smartphones was 1.7 million units.
B.
If b = 1.02, the annual sales of smartphones will double in 2 years.
C.
If b = 1.45, the annual growth rate of the sales of smartphones is 145%.
D.
The average annual sales of smartphones increases by 1.7 million units every year.