Calculate the average growth rate from the following growth rates. (Round your intermediate calculations at least to 4 decimal places and final answer to 2 decimal places.)
1.75% 2.10% .30% .70% 3.70%
To calculate the average growth rate, we sum up all the growth rates and divide by the total number of growth rates.
1.75% + 2.10% + 0.30% + 0.70% + 3.70% = 8.55%
There are 5 growth rates, so we divide the sum by 5:
8.55% / 5 = 1.71%
Therefore, the average growth rate is 1.71%.
To calculate the average growth rate, you need to find the average of the given growth rates.
Step 1: Add all the growth rates together.
1.75% + 2.10% + 0.30% + 0.70% + 3.70% = 8.55%
Step 2: Divide the sum of the growth rates by the number of growth rates.
8.55% / 5 = 1.71%
Therefore, the average growth rate from the given growth rates is 1.71%.