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That is correct; to multiply by 2 and then multiply by 2 again is equivalent to multiplying by 4.
When you multiply 4 by 2, you're doubling it, increasing 4 to twice its size. When you multiply 0.25 by 0.5, you're cutting it in half, decreasing 0.25 to 0.125.
If you square a number, then you are taking the number times itself. For instance, 4 squared is 16, because 4 times 4 is 16.
It means that you add a number to 4, then multiply the result by 2. If you call the number "n", you can also write this in algebra shorthand as:2(n+4)
Multiply it by 0.75 or divide it by 4 and multiply it by 3.