00:01
Hi there, i'm working my way through numeraid and your question is the next one to come up.
00:04
One of the first steps that we need to work out for this question is that between 1956 and 2019 there were 63 years.
00:15
Arbitrary, but something we need to note for the question.
00:19
Next we need to find the rate at which cost of data storage decreased.
00:23
It's not a simple subtraction because the decrease happened gradually over the years.
00:28
We need to find the average annual rate of decrease.
00:31
The formula to calculate the average annual rate of decrease is as follows.
00:35
Rate is equal to the ending value divided by the beginning value.
00:53
All of this to the power of 1 divided by number of years minus 1.
01:06
In this case the beginning value being 9200.
01:14
Ending value being 0 .00002.
01:23
And the rate of years being 1 divided by 63 minus 1.
01:34
This calculation will end up giving us a negative rate...