The video tutorial explains the difference between growth rate and growth factor, as well as decay rate and decay factor in exponential functions. It clarifies that factors are numbers multiplied together, while rates are expressed as percentages. The tutorial provides examples of exponential growth and decay, demonstrating how to identify growth and decay factors and rates from equations. It emphasizes the importance of expressing rates as percentages and understanding the role of factors in exponential equations.

What is a common confusion students have regarding growth rate and growth factor?

• They think both terms mean the same.

• They believe growth rate is always higher.

• They think growth rate is a constant number.

• They assume growth factor is a percentage.

What is the primary difference between growth rate and growth factor?

• Growth factor is always less than 1

• Growth rate is a percentage

• Growth factor is a percentage

• Growth rate is a factor

In an exponential function, what are the numbers being multiplied called?

• Exponents

• Rates

• Factors

• Products

What is the result called when two factors are multiplied in an exponential function?

• Sum

• Difference

• Product

• Quotient

How is 'rate' typically expressed in exponential equations?

• As a fraction

• As a percentage

• As a whole number

• As a decimal

In the exponential model m(n) = 24(1 + 0.05)^n, what is the growth factor?

• 0.05

• 1.05

• n

• 24

In the same model, what is the growth rate?

• 0.05

• 5%

• 1.05

• 24%

In the context of exponential functions, what does a factor greater than 1 indicate?

• Reduction

• Stability

• Growth

• Decay

How can you express a growth rate of 0.05 as a percentage?

• 50%

• 0.05%

• 0.5%

• 5%

What is the significance of the number 1 in the expression 1 + 0.05?

• It represents the initial value

• It is the growth rate

• It is the base value for growth

• It is the decay factor