Table 21-1

-Refer to Table 21-1.Using the table above,what is the approximate average annual growth rate from 2008 to 2011?

Question

Table 21-1
 
-Refer to Table 21-1.Using the table above,what is the approximate average annual growth rate from 2008 to 2011?

Quizplus · Accepted Answer

To calculate the average annual growth rate, we need to use the formula: [(ending value / beginning value) ^ (1/number of years)] - 1. 
For this case, the beginning value is 10,064 and the ending value is 11,575 (sum of values in column 2011). 
The number of years is 4. 
Applying the formula, we get: [(11,575/10,064)^(1/4)]-1 = 0.0198 ≈ 2%. 
Therefore, the approximate average annual growth rate from 2008 to 2011 is 2%.

Table 21-1 -Refer to Table 21-1.Using the Table Above,what Is the Approximate