Step 1 :Given that the initial population is 550, the population doubles every 3 years, and the general form of the exponential function is \(P(t)=P_{0} n^{\frac{t}{T}}\).
Step 2 :Substitute the given values into the general form to get the specific exponential function for this situation. Here, \(P_{0} = 550\), \(n = 2\) (since the population doubles), and \(T = 3\) years.
Step 3 :Substituting these values into the equation gives us \(P(t)=550 \cdot 2^{\frac{t}{3}}\).
Step 4 :\(\boxed{P(t)=550 \cdot 2^{\frac{t}{3}}}\) is the exponential function that models the situation.