QQuestionMathematics
QuestionMathematics
Annual revenue for Corning Supplies grew by $5.5 \%$ in 2007; $1.1 \%$ in 2008; $- 3.5 \%$ in 2009; $- 1.1 \%$ in 2010; and $1.8 \%$ in 2011.
What is the mean growth annual rate over this period? Round your answer to four decimal places. Do not round intermediate calculations.
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Answer
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Step 1:: First, we need to calculate the annual growth rate for each year.
\text{Percentage Change} = \frac{\text{New Value} - \text{Old Value}}{\text{Old Value}} \times 100\%
The formula for percentage change is For 2007, the old value is the revenue in 2006 (which is not given), and the new value is the revenue in 2
Final Answer
\text{Percentage Change} = \frac{\text{New Value} - \text{Old Value}}{\text{Old Value}} \times 100\%
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