00:01
Hey everyone, welcome to numerate.
00:03
So we are giving a problem of the annual revenue at a supplies company.
00:10
And we are giving revenues across one to five years and given a percentage of growth, right? we have to now find the mean growth annual rate over this four year period, four or five year period.
00:28
Okay? so first of all, let's come.
00:31
Convert each of the periods into decimal form since our answer is asked for decimal form 2007 this will equal 0 .05 0 .055 208 equals 0 .055 -2008 equals 0 .010190 equals negative 0 .035, 2010 equals negative 0 .011.
01:40
And then finally, 2011, it equals, it's actually raised back to 0 .018.
01:56
So these are the growth.
02:01
Rates for every single year, so we define the mean.
02:03
So we just take all of these and divide it by 5.
02:07
Okay, so let's do that.
02:09
The mean, so we can just denote that x bar for mean equals 0 .055 plus 0 .011 plus 0 .0.
02:27
So from here, so as 9, extra minuses, minus 0 .035, minus 0 .011 plus 0 .018...