Exponential models are useful in a number of real-world scenarios, from predicting declines in population to forecasting growth in asset values. This can all get rather complicated, and both the SAT and ACT require some familiarity with exponential functions.
Fortunately, only knowledge of bare basics is required.
Following is a list of things you need to know about exponential functions.
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Simple definition
Exponential functions have an unknown in the exponent.
Exponential functions – general form
y = A*B^x.
x is usually time, t.
Constants
A is the “initial value” (y when x=0).
B is the “multiplier.”
Growth factor
B = (1±r), where r is rate of growth/decay.
(Time and rate units must match).
Parent Graph
Rising curve through (0,A).
Horizontal asymptote y = 0.
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For practice, search Google for worksheets covering any or all of the above, pick a worksheet that provides answers, complete the worksheet, analyze any mistakes, and redo it until you can complete that worksheet with no errors. Then repeat, with additional worksheets, as needed, until you’ve mastered this material.
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