Question

Annual revenue for Corning Supplies grew by 5.5% in 2007; 1.1% in 2008; -3.5% in 2009; -1.1% in 2010; and 1.8% in 2011. What is the mean growth annual rate over this period? Round your answer to four decimal places

Answer 1

Answer:

The mean growth annual rate over this period is 0.0036

Step-by-step explanation:

we know that

The mean growth annual rate is calculated as the sum of each year's growth rate divided by the number of years

$\frac{5.5\%+1.1\%-3.5\%-1.1\%+1.8\%}{5}=0.36\%$

Convert to decimal form

$0.36\%=0.36/100=0.0036$

therefore

The mean growth annual rate over this period is 0.0036