Question

Identify the initial value, the growth or decay factor, and the growth or decay rate of the exponential function below. f(x) = 2(.94)* x.

Answer 1

Exponential Decay formula:

f(x) = a (b)^x

where:

a= initial value

b= decay factor

b= 1- r

r = decay rate

Since the factor is less than 1 (0.94) it is a decay

So, for the expression given: f(x) = 2(.94)* x.

initial value = 2

Decay factor = 0.94

1- r = 0.94

1-0.94 = r

0.06 = r

Decay rate = 0.06 (decimal)