Assuming a hospital has seen discharges increase from 10,000 in 2010 to 14,000 in 2020, the annual compound growth rate is:
A) 2.2%.
B) 3.4%.
C) 4.0%.
D) 40.0%.
E) None of these is correct.

Question

Quizplus · Accepted Answer

The compound annual growth rate (CAGR) is calculated using the formula: CAGR = (Ending Value/Beginning Value)^(1/Number of Years) - 1. Plugging in the values: CAGR = (14000/10000)^(1/10) - 1 = 0.034 or 3.4%.

Assuming a Hospital Has Seen Discharges Increase from 10,000 in 2010