Average Annual Percent Increase - Measure of Central Tendency

Average Annual Percent Increase

Prev Question Next Question

Question

Which measure of central tendency is used to determine the average annual percent increase?

Answers

Explanations

Click on the arrows to vote for the correct answer

A. B. C. D. E.

Explanation

The formulaic presentation of the geometric mean is suited for calculating percentage changes. The geometric mean of a set of n positive numbers and is defined as the nth root of the product of the n numbers The two main uses of the geometric mean (GM) are:

1. To average percents, indexes, and relatives, and

2. To determine the average percent increase in sales, production or other business or economic series from one time period to another.

Prev Question Next Question