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In mathematics, a rate is the quotient of two quantities, often represented as a fraction. [1] If the divisor (or fraction denominator) in the rate is equal to one expressed as a single unit, and if it is assumed that this quantity can be changed systematically (i.e., is an independent variable), then the dividend (the fraction numerator) of the rate expresses the corresponding rate of change ...
For any fixed b not equal to 1 (e.g. e or 2), the growth rate is given by the non-zero time τ. For any non-zero time τ the growth rate is given by the dimensionless positive number b. Thus the law of exponential growth can be written in different but mathematically equivalent forms, by using a different base.
[5] [6] The difference quotient is a measure of the average rate of change of the function over an interval (in this case, an interval of length h). [7] [8]: 237 [9] The limit of the difference quotient (i.e., the derivative) is thus the instantaneous rate of change. [9]
The algebraic symbols b, d and r stand for the rates of birth, death, and the rate of change per individual in the general population, the intrinsic rate of increase. This formula can be read as the rate of change in the population (dN/dt) is equal to births minus deaths (B − D). [2] [13] [17]
A common form for the rate equation is a power law: [6] = [] [] The constant is called the rate constant.The exponents, which can be fractional, [6] are called partial orders of reaction and their sum is the overall order of reaction.
For example, we might want to calculate the relative change of −10 to −6. The above formula gives (−6) − (−10) / −10 = 4 / −10 = −0.4, indicating a decrease, yet in fact the reading increased. Measures of relative change are unitless numbers expressed as a fraction. Corresponding values of percent change would be ...
However, we usually prefer to measure time in hours or minutes, and it is not difficult to change the units of time. For example, since 1 hour is 3 twenty-minute intervals, the population in one hour is () =. The hourly growth factor is 8, which means that for every 1 at the beginning of the hour, there are 8 by the end.
The growth rate of output is the time derivative of the flow of output divided by output itself. The growth rate of the labor force is the time derivative of the labor force divided by the labor force itself. And sometimes there appears a time derivative of a variable which, unlike the examples above, is not measured in units of currency:
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