Given the following exponential function, identify whether the change represents growth or decay, and determine the percentage rate of increase or decrease.
y = 3300(0.949)^x
The given exponential function is in the form of y = A(r)^x, where A is the initial value, r is the growth/decay rate, and x is the variable.
In this case, the initial value is A = 3300 and the growth/decay rate is r = 0.949.
Since the growth/decay rate r is less than 1, the function represents decay.
To determine the percentage rate of decay, we can calculate the difference between 1 and the growth/decay rate:
Percentage rate of decay = (1 - r) * 100% = (1 - 0.949) * 100% = 0.051 * 100% = 5.1%
Therefore, the percentage rate of decay in the given exponential function is 5.1%.