Statistics: calculate the geometic mean of percent increase in airfare revenues
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The U.S. Federal Aviation Administration reported that passenger revenues on international flights increased from $528 million in 1981 to $5,100 million in 2004. What is the geometric mean annual percent increase in international passenger revenues?
10.4
27.9
103.6
9.96
2814
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The solution explains the type of mean and how to calculate it. The details of the solution are presented together with the correct answer.
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The geometric mean is an average that is useful for sets of numbers that are interpreted ...
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