Final answer:
The equation y = (1/3) * 2ˣ represents exponential growth. The formula for exponential growth is y = a * bˣ, where 'a' is any positive constant and 'b' is a constant greater than one. In real-world scenarios like population growth, the value of the variable increases at a rate proportional to its current value, which means it increases faster the larger it gets.
Step-by-step explanation:
The equation y = (1/3) * 2ˣ represents exponential growth, not decay. An equation describes exponential growth if it takes the form y = a * bˣ, where 'a is any positive constant and 'b' is a constant greater than one. Here, a is 1/3 and b is 2; since 2 is greater than 1, the equation describes exponential growth.
Exponential growth is characterized by the value of the dependent variable increasing at a rate proportional to its current value, meaning that as the value of the variable increases, its rate of growth also increases. This is often seen in real-world scenarios like population growth under ideal conditions, where the population grows faster the larger it gets.
Learn more about Exponential Growth