the general expression of the growth function is :
[tex]\begin{gathered} y=b(a)^x\text{ where b is the intial value, a is the growth rate} \\ \text{ and if x = +ve then the function is of growth} \\ \text{and if -ve then the fucntion is decaying} \end{gathered}[/tex]The given expression :
[tex]f(x)=2(0.94)^x[/tex]On comparing with the general equation :
b = 2
a = 0.94
Intial value = 2
As the variable x is positive so the functioni is Growth function
Growth factor is the factor by which a quantity multiplies itself over time.
So, here growth factor = 0.94 0r 94%
Growth rate is the addend by which a quantity increases (or decreases) over time.
so,
[tex]\begin{gathered} f(x)=2(0.95)^x \\ f(x)\text{ for one year x = 1} \\ f(x)=2(0.95)^1 \\ f(x)=1.88 \\ \text{Growth rate= 1.88 + 2} \\ \text{Growth rate = 3.88} \end{gathered}[/tex]Answer :
13 ) Growth
14) 2
15) 0.94
16) 3.88