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Often the independent variable is time. Described as a function, a quantity undergoing exponential growth is an exponential function of time, that is, the variable representing time is the exponent (in contrast to other types of growth, such as quadratic growth). Exponential growth is the inverse of logarithmic growth.
Biological exponential growth is the unrestricted growth of a population of organisms, occurring when resources in its habitat are unlimited. [1] Most commonly apparent in species that reproduce quickly and asexually , like bacteria , exponential growth is intuitive from the fact that each organism can divide and produce two copies of itself.
A quantity undergoing exponential decay. Larger decay constants make the quantity vanish much more rapidly. This plot shows decay for decay constant (λ) of 25, 5, 1, 1/5, and 1/25 for x from 0 to 5. A quantity is subject to exponential decay if it decreases at a rate proportional to its current value.
RGR is a concept relevant in cases where the increase in a state variable over time is proportional to the value of that state variable at the beginning of a time period. In terms of differential equations, if is the current size, and its growth rate, then relative growth rate is
These rules apply to exponential growth and are therefore used for compound interest as opposed to simple interest calculations. They can also be used for decay to obtain a halving time. The choice of number is mostly a matter of preference: 69 is more accurate for continuous compounding, while 72 works well in common interest situations and is ...
By now, it is a widely accepted view to analogize Malthusian growth in Ecology to Newton's First Law of uniform motion in physics. [8] Malthus wrote that all life forms, including humans, have a propensity to exponential population growth when resources are abundant but that actual growth is limited by available resources:
The doubling time is a characteristic unit (a natural unit of scale) for the exponential growth equation, and its converse for exponential decay is the half-life. As an example, Canada's net population growth was 2.7 percent in the year 2022, dividing 72 by 2.7 gives an approximate doubling time of about 27 years.
In phenomenological applications, it is often not clear whether the stretched exponential function should be used to describe the differential or the integral distribution function—or neither. In each case, one gets the same asymptotic decay, but a different power law prefactor, which makes fits more ambiguous than for simple exponentials.