More with linear and exponential models today, specifically with interpreting what the parameters (slope, y-intercept, growth rate) mean in the context of the scenario they model.
The big takeaway is this: for both linear and exponential models, the y-intercept is the starting point or initial value. For a linear function, the slope is the unit rate of change – the change in whatever y measures per one unit increase of whatever x measures. For an exponential function, the value of b always represents the growth or decay rate – typically expressed as a percent. You’ll need to set b = 1 + r or b = 1 – r, then solve for r to get the percent change.
Don’t forget to bring your Chromebook and calculator every day for the rest of this week!