The change represents decay and the percentage decrease is 2.9%
Exponential function
The standard exponential function is expressed as y = ab^x
where:
a is the initial
b is the rate
If the value of b is less than 1 hence the function is decay and if greater than 1, the function is growth
GIven the expoenential function y=100(0.971)^x
Since the value of b = 0.971 < 1, hence the function is a decay.
The percentage decrease = 1 - 0.971 = 2.9%
Hence the percentage decrease is 2.9%
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