What is exponential decay?
Exponential decay is a decrease in which a quantity loses a fixed percentage of its current value every period, so the absolute amount lost shrinks as the quantity itself shrinks. A sample losing 5% per day loses less material on day 10 than on day 1, because 5% of a smaller amount is a smaller amount.
Plotted against time, exponential decay traces a falling curve that drops quickly at first and then flattens as it approaches zero, never quite reaching it.