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    Geometric mean

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    In 1996 a total of 14,968,000 taxpayers in the United States filed their individual tax returns electronically. By the year 2002 the numer increased to 46,282,200. What is the geometric mean annual increase for the period?

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    1996 Poulation= 14,968,000
    2002 Poulation= 46,282,200

    no of years elapsed= 6

    Geometric mean = 20.70% =(46282200/14968000)^(1/6)-1 (^ denotes power)

    Answer: 20.70%

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    Solution Summary

    The solution calculates Geometric mean annual increase.