I need help with math Im not sure how to find decay factor?
Say that there is a very expensive dress that you want to purchase, but cannot afford. However, for whatever reason, the price of the dress is being reduced by 5% each week. So, if you wanted to buy the dress after one week, you would figure that the price is 95% of the original price. After 2 weeks the price is 95% of the previous weeks price. The decay factor is 0.95 because this is 95% as a decimal. Just think of how much you need to make up 100% and convert to a decimal. I'd be happy to explain more about how this relates to the exponential decay function y = a(1-b)^x, but I don't want to ramble on.