Understanding Exponential Functions
An exponential function is a mathematical function of the form f(x) = a · bx, where a is the initial value (coefficient), b is the base (growth or decay factor), and x is the exponent. The base b must be positive and not equal to 1 for the function to be truly exponential.
Exponential functions model many real-world phenomena: population growth, radioactive decay, compound interest, the spread of disease, and the cooling of hot objects.
Key Properties
Exponential Growth (b > 1)
When the base is greater than 1, the function increases rapidly as x increases.
Exponential Decay (0 < b < 1)
When the base is between 0 and 1, the function decreases as x increases.
Y-Intercept
The y-intercept is always at (0, a) since b^0 = 1.
Horizontal Asymptote
The horizontal asymptote is y = 0 (the x-axis) for standard exponential functions.
Growth Rate and Factor
The growth factor is the base b. The growth rate is (b - 1) expressed as a percentage. For example, if b = 1.05, the growth rate is 5%. If b = 0.9, the decay rate is 10%.
Domain and Range
- Domain: All real numbers (-infinity, +infinity) -- you can plug any x value into an exponential function.
- Range: If a > 0, the range is (0, +infinity). If a < 0, the range is (-infinity, 0).
Applications of Exponential Functions
- Population Growth: P(t) = P0 · (1 + r)t
- Compound Interest: A = P(1 + r/n)nt
- Radioactive Decay: N(t) = N0 · (1/2)t/h
- Bacterial Growth: B(t) = B0 · 2t/d (doubling every d hours)