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These are important terms and notations for this section.
Exponent The exponent of a term is the power that the term is being raised to. For
example, the exponent of is .
Exponentiation Exponentiation is the process of raising a term to a power. For
example, if we have and “square” both sides, we would say we “exponentiated both
sides by two”. This is primarily of use/interest in industry as it is a much
more common phrase than saying “we raised both sides to the power of
two.”
Exponential Growth/Decay Exponential Growth (or decay) is any growth (or
decay respectively) whose rate depends upon the current population value
of the growing (or decaying) substance. For example, a population of deer
will have more babies if there are more deer to bread, so it’s (unrestricted)
growth would be an example of exponential growth. In contrast, if a student
has 2 assignments assigned every week, due at the end of the semester, the
workload growth is not an example of exponential growth, as it grows at
the same rate regardless of how many assignments the student currently
has.
Growth/Decay Multiplier The growth/decay multiplier is the ratio of the size of the
population after one growth/decay cycle to it’s starting population. Thus if you have
a population that goes from 100 to 200 in its first growth cycle, then it’s growth
multiplier is .