Writing Exponential Growth Functions for Percent Increase

The video tutorial explains exponential growth by interpreting percent increase as a growth factor. It uses a bacteria population example to illustrate how exponential growth occurs through repeated multiplication. The tutorial then transitions to financial examples, explaining how a 3% increase in savings is modeled as a growth factor of 1.03. It further demonstrates how to write an exponential growth equation for a savings account with 2% interest, emphasizing the importance of defining variables in such equations.

What does the term 'growth factor' refer to in the context of exponential growth?

• The number by which the quantity multiplies each period

• The initial number of items

• The total number of periods

• The rate at which items are added

If a population doubles every week, what is the growth factor?

• 1

• 2

• 0.5

• 4

How is a 3% increase represented as a growth factor?

• 3.0

• 1.03

• 1.3

• 0.03

What does a growth factor of 1.02 indicate in terms of percentage increase?

• 20%

• 2%

• 0.2%

• 200%

In the equation y = 300 * 1.02^x, what does the number 300 represent?

• The number of periods

• The growth factor

• The initial amount

• The percentage increase

What is the purpose of defining variables in an exponential growth equation?

• To specify the units of measurement

• To determine the growth factor

• To calculate the initial value

• To clarify what each variable represents

Which of the following is a correct representation of an exponential growth function?

• y = x * growth factor + initial value

• y = initial value * growth factor^x

• y = growth factor * initial value + x

• y = initial value + growth factor * x