MATH6102
Business Mathematics
Week 4
Exponential and Logarithmic Functions
Chapter Outline
Exponential Functions
Logarithmic Functions
Properties of Logarithms
Logarithmic and Exponential
Equations
EXPONENTIAL FUNCTIONS
• The function f defined by
f x bx
where b > 0, b 1, and the exponent x is any real number, is
called an exponential function.
• Rules for Exponents:
Example: Exponent
1. 32 = 3 x 3 = 9
2. 24 x 23= 24+3 = 27= 2 x 2 x 2 x 2 x 2 x 2 x 2
3. 55 : 53 = 55-3 = 52= 5 x 5
4. (4 x 2)3 = 43 x 23 = (4 x 4 x 4) x (2 x 2 x 2)
Graph the Exponential
Function
Example:
f(x) = (1/2)x
Solution:
Properties of Exponential
Functions
Example: Population Growth
1. The population of a town of 10,000 grows at the rate of 2% per year.
Find the population three years from now.
Solution:
For t = 3, we have P(3) 10,000(1.02)3 . 10,612
2. The projected population P of a city is given by P 100,000e0.05t
where t is the number of years after 1990. Predict the population for
the year 2010.
Solution:
For t = 20, P 100,000 e 0.05(20)
100,000 e1
100,000e 271,828
LOGARITHMIC FUNCTIONS
• y = logbx if and only if by=x.
• Logarithmic functions: y =f(X)= alog x
• Fundamental equations are b log b x
x and b log x
x b
• Converting from Exponential to Logarithmic Form
Exponential Form Logarithmic Form
a. Since 52 25 it follows that log 5 25 2
b. Since 34 81 it follows that log 3 81 4
c. Since 100 1 it follows that log10 1 0
PROPERTIES OF LOGARITHMS
Properties of logarithms
1. log b (mn) log b m log b n
m
2. log b log b m log b n
n
3. log b m r r log b m
1
4. log b log b m
m
5. log b 1 0
6. log b b 1
log a m
7. log b m
log a b
Example: Logarithms
a. .log 56 log(8 7) log 8 log 7 0.9031 0.8451 1.7482
9
b. . 2 log 9 log 2 0.9542 0.3010 0.6532
log
c. .log 64 log 8 2 log 8 2(0.9031) 1.8062
2
1 1
d. .log 5 log 5 2 log 5 2 (0.6990) 0.3495
1/ 2
LOGARITHMIC AND EXPONENTIAL
EQUATIONS
• A logarithmic equation involves the logarithm
of an expression containing an unknown.
• An exponential equation has the unknown
appearing in an exponent.
Example: Oxygen Composition
An experiment was conducted with a particular type of small animal. The logarithm
of the amount of oxygen consumed per hour was determined for a number of the
animals and was plotted against the logarithms of the weights of the animals. It was
found that
log y log 5.934 0.885 log x
where y is the number of microliters of oxygen consumed per hour and x is the
weight of the animal (in grams). Solve for y.
Solution:
log y log 5.934 0.885 log x
log 5.934 log x 0.885
log y log(5.934 x 0.885 )
y 5.934 x 0.885
Thank You