Half-life: the universal decay clock
Any quantity that decays exponentially — radioactive isotopes, drug concentration, capacitor voltage — obeys N(t) = N₀ · (1/2)^(t/t½). The half-life t½ is the time for the quantity to halve.
Decay constant λ = ln(2)/t½ links half-life to the alternative formulation N(t) = N₀ · e^(−λt). Mean lifetime τ = 1/λ ≈ 1.44 · t½.