Question

Does the increase in price represent linear or exponential growth, and what is the constant growth rate or growth factor per day?

Answer 1

If a table is a linear function, the difference in their y-values must be the same. Let's check the table.

As we can see, the difference between the y-values is not the same. Hence, the price increase is not following a linear growth.

To check if a table is following an exponential growth, the ratio of the y-values must be the same.

As we can see above, the ratio of each y-values to the previous y-values is the same. Hence, the table is following an exponential function. The ratio is 1.7.

Therefore, increase in price represents an exponential growth and the growth factor is 1.7 per day. (Third Option)