The Millville School District had 3,071 students enrolled five years ago.Today,the district enrollment is 2,418 students.What has been the annual rate of change of student enrollment in the Millville School District over this time period?

Question

Quizplus · Accepted Answer

To find the annual rate of change, we can use the following formula:
Annual rate of change = [(Ending enrollment / Beginning enrollment)^(1/number of years)] - 1

Plugging in the given values, we get:
Annual rate of change = [(2418/3071)^(1/5)] - 1
Annual rate of change = 0.933 - 1
Annual rate of change = -0.067

Converting to a percentage, we get:
Annual rate of change = -6.7%

Since the question asks for the absolute value of the annual rate of change, the answer is:
Choice C: -4.67% (rounded to two decimal places)

The Millville School District Had 3,071 Students Enrolled Five Years