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    Arithmetic and geometric mean annual growth rate

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    1. The rates of growth of Bardeen Chemicals for the past five years are 5.2 percent, 8.7 percent, 3.9 percent, 6.8 percent, and 19.5 percent.

    What is the arithmetic mean annual growth rate?
    What is the geometric mean annual growth rate?
    Should the arithmetic mean or geometric mean be used to represent the average annual growth rate? Why?

    2. A nationwide poll of adults asked if they favor gun control, oppose it, or have no opinion, as well as their preferred political party. The results are reported in the following table.

    Party Affiliation Favor Oppose No Opinion Total

    Democrat 88 96 36 220

    Republican 64 96 20 180

    Total 152 192 56 400

    Analyze the information in the table. Who is more likely to favor gun control?

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    Solution Preview

    Please see the attached files.

    S. No Rates of Growth
    1 5.2
    2 8.7
    3 3.9
    4 6.8
    5 19.5
    Arithmetic mean = 8.82
    Geometric mean = 7.478701

    The arithmetic mean should be used, and not the geometric mean because the Geometric mean does not have any significance in ...

    Solution Summary

    This determines arithmetic mean annual growth rate, geometric mean annual growth rate, and analyzes the results of a table.