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What was the average annual rate of productivity increase, and average real hourly compensation over the time period? Average
Major Sector Productivity and Costs Series Id: Sector: Measure: Duration: Base Year: PRS84006092 Business Labor productivity
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Answer #1

Average (Mean) = Σ X / N : where variable 'X' average is required, & N = no. of units of X

So, Average Labour productivity = [ 3.3 + (-0.1) + 0.8 + 0.9 + 0.7 + 1.2 + 0.3 + 1.4 + 1.5 ] / 9

= 10 / 9 = 1.1

Average = [ 0.1 - 1 + 0.6 + 0 + 0.9 + 2.7 - 0.2 + 1.3 + 0.9 ] / 9

= 5.3 / 9 = 0.58

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