The information below shows the cost for a year of college in public and private colleges...
The information below shows the cost for a year of college in public and private colleges in 2003-04 and 2014-15. What is the geometric mean annual increase for the period for the two types of colleges? (Round your answers to 2 decimal places.)
| Type of College | 2003-04 | 2014-15 | |||||
| Public | $ | 3,120 | $ | 7,630 | |||
| Private | 5,536 | 13,800 | |||||
The geometric mean annual increase for public colleges %.
The geometric mean annual increase for private colleges %.
Homework Answers
There are 11 years between the two periods
Just take the 11th root of the ratio, and subtract 1.
What is the geometric mean annual increase for public
colleges?
=(7630 / 3120)^(1/11)-1
=8.47%
The geometric mean annual increase for private colleges %.
=(13800 / 5536)^(1/11)-1
=8.66%
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The information below shows the cost for a year of college in
public and private colleges...
The information below shows the cost for a year of college in public and private colleges...
The information below shows the cost for a year of college in public and private colleges in 2001-02 and 2013-14. What is the geometric mean annual increase for the period for the two types of colleges? (Round your answers to 2 decimal places.) type of college 2001-02 2013-14 public $2540 $8128 private 5514 13778 geometric mean annual increase public college % geometric mean annual increase private college %
The information below shows the cost for a year of college in public and private colleges...
The information below shows the cost for a year of college in public and private colleges in 2002-03 and 2015-16. what is the geometric mean annual increase for the period for the two types of colleges? Type of college 2002-03 2015-16 Public $3,040 $7,298 Private $5,528 $13,792
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