#### WHAT WAS THE GEOMETRIC MEAN GROWTH RATE IN SALES OVER THE PAST FOUR YEARS? Suppose that a firm’s sales were $2,500,000 four years ago, and sales have grown annually by 25%, 15%,-5%, and 10% since that time. What was the geometric mean growth rate in sales over the past four years?

Rate of Return .50 .30 –.10 –.15

Compute the geometric mean.

NARRBEGIN: 2-Year Investment

2-Year Investment

Suppose you make a 2-year investment of $5,000 and it grows by 100% to

$10,000 during the first year. During the second year, however, the investment

suffers a 50% loss, from $10,000 back to $5,000.

NARREND

67. {2-Year Investment Narrative} Calculate the

arithmetic mean.

68. {2-Year Investment Narrative} Calculate the

geometric mean.

69. {2-Year Investment Narrative} Compare the

values of the arithmetic and geometric means.

NARRBEGIN: Ages of Senior Citizens

Ages of Senior Citizens

A sociologist recently conducted a survey of citizens over 65 years of

age whose net worth is too high to qualify for Medicaid and who have no private

health insurance. The ages of 22 uninsured senior citizens were as follows: 65,

66, 67, 68, 69, 70, 71, 73, 74, 75, 76, 77, 78, 79, 80, 81, 86, 87, 91, 92, 94,

and 97.

NARREND

70. {Ages of Senior Citizens Narrative} Calculate

the mean age of the uninsured senior citizens

71. {Ages of Senior Citizens Narrative} Calculate

the median age of the uninsured senior citizens.

72. {Ages of Senior Citizens Narrative} Explain

why there is no mode for this data set.

73. Suppose that a firm’s sales were $2,500,000

four years ago, and sales have grown annually by 25%, 15%,-5%, and 10% since that time. What was the

geometric mean growth rate in sales over the past four years?

74. Suppose that a firm’s sales were $3,750,000

five years ago and are $5,250,000 today. What was the geometric mean growth

rate in sales over the past five years?

. .

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