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Federal Reserve Board Member Terms

The term of office for the Federal Reserve's Board of Governors is 14 years. But how long does a member actually serve? Calculate the average duration of Board service for these two twenty-year periods:
1950-1970
1990-2010
Note: Calculate the average period of time served based only on persons who went onto the Board after January 1 of the beginning years (1950 and 1990) and who had left by December 31 of ending years (1970 and 2010)--in order to capture the entire period of their service

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The term of office for the Federal ReserveĆ¢??s Board of Governors is 14 years. But how long does a member actually serve?

Calculate the average duration of Board service for these two twenty-year periods:
1950-1970
1990-2010

Note: Calculate the average period of time served based only on persons who went onto the Board after January 1 of the beginning years (1950 and 1990) and who had left by December 31 of ending years (1970 and 2010)Ć¢?"in order to capture the entire period of their service

Retrieved from The Federal Reserve Board Records (http://www.federalreserve.gov/bios/boardmembership.htm), here is the raw data:

Thomas B. ...

Solution Summary

Excel spreadsheet including Federal Reserve Board member terms and calculations for the average duration of service. References included.

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