Earlier quoted context omitted.
The notion of a^n definitely belongs to group theory, whether you call that n an exponent or an annihilator or a period is a matter of some contention. See: http://mathoverflow.net/questions/44393/notation-exponent-of... http://mathoverflow.net/questions/32116/exponent-of-a-group
Only if n is an integer. Real exponentiation is something completely different, because it involves all aspects of real numbers - addition, multiplication, order and continuity, which are all interconnected, and the language of group theory is too weak to describe it. For instance, while 2^pi makes perfect sense in the realm of real numbers, it makes none in Z_3.
(Warning, ascii math is confusing and ambiguous to read. Sorr.)
Exponentiation of group "multiplication" does not immediately seem amenable to the reals, sure. But real exponentation does form a group, as shown here:
Define x_g(r) = the function that raises a Real/{0} (non-zero real) number r to the exponent x (in the sense of of some reasonable definition of exponentiaton of continuous functions). Define X = the set x_g() functions corresponding to all reals (including 0)
Define x_g y_g as composition: y_g(x_g(r)) = (r^x)^y = r^ (xy). Then we have 0_g x_g = (r^0)^y = r ^ (0 y) = 1 = r ^ (y * 0) = (r^y)^0) = y_g 0_g -> identity
y_g (1/y)_g = r^y ^ (1/y) = r^0 = 0_g -> inverse
(x_g y_g) (z_g) = ((r^x)^y)^z = (r^(xy))^z = r^((xy)z) = r^(x(yz) = (r^x)^(yz) = x_g (r_g r_g) -> Associativity
That makes a group.
Now, I explicitly left out the 0^x case. Can we fit it back in?
Not particularly cleanly, as thoroughly discussed in this thread.