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The given equation is:

\[
y = \left(\frac{1}{4}\right)^x
\]

This is an **exponential equation** because it has the general form \( y = a^x \), where \( a \) is a constant (in this case, \( a = \frac{1}{4} \)) and the variable \( x \) is in the exponent.

The correct answer is **exponential**.

Would you like more details or have any further questions? Here are some related questions to deepen understanding:

1. What is the difference between exponential and linear equations?
2. How do you identify the base in an exponential equation?
3. Can exponential equations have negative exponents? What do they represent?
4. How does the graph of an exponential decay function differ from an exponential growth function?
5. What are real-world applications of exponential equations?

**Tip**: In an exponential equation, if the base is less than 1 (like \( \frac{1}{4} \)), the function represents exponential decay.

What is the family of the equation y = (1/4)^x?

Discover the family of the exponential equation y = (1/4)^x. Understand the concepts behind exponential decay and the key properties of exponential functions. This is ideal for students in Grades 9-11.

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