How does my computer choose a volume?

If I am watching a YouTube video and I have the volume setting on the video set to 50% and I have the volume on my laptop set to 75% how does my computer reconcile this?

I always thought that the two numbers were multiplied so in the case I mentioned above the volume coming out of my speakers would be (.75*.5) 37.5%. Is this how it works?

Also how come laptops don’t have analog volume controls like a knob or a slider?

Yes, the numbers are basically multiplied.

Older laptops usually did have an analog volume control. These days digital is more common. It helps them save a buck or two in the manufacture of the laptop.

In addition to being more expensive, knobs and sliders take up more space than a few repurposed function keys and are more likely to break.