An exponential function is a mathematical expression in the form \(f(x) = a^x\), where \(a\) is a positive constant raised to the power of the variable \(x\). Exponential functions showcase the characteristic of rapid growth or decay. When \(a > 1\), as in our case with \(e^x\), the function illustrates rapid increase, since \(e\) is the base of natural logarithms and approximates to 2.718.
The graph of an exponential function increases rapidly, starting from nearly zero. The steepness and direction depend on the base value we use. This makes them crucial in representing real-world phenomena such as population growth or radioactive decay where change happens exponentially.
- For exponential growth, the graph ascends rapidly.
- If modeling decay, as described by a factor between 0 and 1, it descends swiftly.
Their unique properties make exponential functions incredibly powerful in various fields like biology and finance, where understanding growth patterns can be essential.