The U.S. Federal Aviation Administration reported that passenger revenues on international flights increased from $528 million in 1986 to $5,100 million in 2009. What is the geometric mean annual percent increase in international passenger revenues?
A)10.4
B)27.9
C)103.6
D)9.96

Question

Quizplus · Accepted Answer

The geometric mean annual percent increase can be calculated using the formula: [(Final Value/Initial Value)^(1/Number of Years)] - 1. Plugging in the values: [(5100/528)^(1/23)] - 1 = 0.104 or 10.4%.

The US Federal Aviation Administration Reported That Passenger Revenues on International