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The connection between a dripping faucet, the Mandelbrot set, a population of rabbits, thermal convection in a fluid, and the firing of neurons in your brain can be explained by a simple equation. When modeling a population of rabbits, the growth rate can be represented by multiplying the current population by a number like 2, but to account for environmental constraints, the equation can be modified by adding the term 1 minus X. This term represents the population as a percentage of the theoretical maximum, ensuring that the population does not grow exponentially forever.