Answer:
The exponential function is that of decay
The percentage decrease is by 3%
Step-by-step explanation:
The exponential equation we are considering is;
y = 550(0.97)^x
Now to know if it’s decay or growth, we shall be considering what we have in the bracket
Mathematically, we can express 0.97 as follows
0.97 = 1-0.03
So what does this means? There is a decrease in subsequent values from one value of y to another.
This means that the equation is for decay as what the term raised to an exponent is less than 1.
Now we want to determine the percentage rate of increase or decrease
What we need to do is to represent the 0.03 difference in fraction
That would be 3/100
So this means that the percentage decrease is by 3%
