Question

Calculate the average growth rate from the following growth rates. (Round your intermediate calculations at least...

Calculate the average growth rate from the following growth rates. (Round your intermediate calculations at least to 4 decimal places and final answer to 2 decimal places.)

4.25% 4.85% 3.05% 3.45% 6.45%

Average growth rate __________%

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Answer #1

Solution :

From given growth rate ,

n = 5

Average growth rate = (4.25% + 4.85% + 3.05% + 3.45% + 6.45%) / 5

= (22.05 %) / 5

= 4.41%

Average growth rate = 4.41%

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