percentage growth

The defining characteristic of linear functions is that the pairs experience a constant growth rate. If you calculate the rate of change between any two pairs, and , in the function, you get the same value, .

This led to the equation or formula for linear functions:

Said another way: If you move a fixed amount anywhere in the domain, , then the function always grows by a proportionally fixed amount, . This fixed growth rate is always the same multiple of the change in the domain. That multiple is the constant growth rate.

Exponential functions are similar, but it is their percentage growth rate that is constant.

The growth of an exponential function, over the interval is . To get a percentage, we compare this back to the starting value, :

And, then to get the percentage growth rate we average over the interval

For an exponential function, this is constant

or

Let’s build such a function up from a given value of .

In general, formulas for exponential functions look like

Exponential Functions

Said another way: If you move a fixed amount in the domain, , then the change in an exponential function, , is the same fixed multiple of the function value.

  • Linear growth is a fixed multiple of the change in domain value. It is independent of the function value.
  • Exponential growth (for a fixed change in domain value) is a fixed multiple of the function value.

There are two types of exponential functions corresponding to or .

  • If , then greater positive exponents make the function value smaller.
    In the other direction, a negative exponent essentially gives us the reciprocal of , which would be greater than here. Therefore, greater negative exponents result in bigger function values.
  • If , then greater positive exponents make the function value bigger.
    In the other direction, a negative exponent essentially gives us the reciprocal of , which would be less than here. Therefore, greater negative exponents result in smaller postive function values.

The graphs of and are shown below.

There is no vertical asymptote. The domain of exponential functions is all real numbers. is a horizontal asymptote on both graphs. The sign of an exponential function is given by the coefficient.

Since these formulas are centered around the exponent, they follow the exponent rules:

Backwards

What if we have a function value for an exponential function and we would like to know which domain numbers are associated with it? In other words, we would like to solve

How would we solve for ?

Most function values are not going to be so obvious.

For example, solve .

We may not be able to quickly think up this number or even an approximation for it. However, we can still talk about it.

We are looking for the number that you raise to, to get .

That is a specific number. We can see from the graph that there is only one such number and we could visually approximate it around .

As with all mathematical phrases, we have shorthand notation for these desciptions.

Logarithms are exponents. They can be positive or negative.

, therefore

We also know that raising a positve number to any exponent cannot produce a negative number or . Therefore, the number inside the logarithm must be positive

It sounds like we have a new category of functions.

If we switch the base from something greater than , to something less than , then all of the exponents flip. The graph flips.

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more examples can be found by following this link
More Examples of Elementary Functions