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.)
4.50% 5.35% 3.55% 3.95% 6.95%
To calculate the average growth rate, you need to find the mean of the growth rates given.
First, add up all the growth rates:
4.50% + 5.35% + 3.55% + 3.95% + 6.95% = 24.30%
Next, divide the sum of the growth rates by the number of growth rates given to find the average:
24.30% / 5 = 4.86%
Therefore, the average growth rate is 4.86%.
To calculate the average growth rate, you need to sum up all the growth rates and divide by the total number of growth rates.
Let's calculate it step by step.
1. Add up all the growth rates:
4.50% + 5.35% + 3.55% + 3.95% + 6.95%
The sum is 24.3%.
2. Divide the sum by the total number of growth rates, which is 5:
24.3% / 5 = 4.86%
Therefore, the average growth rate is 4.86%.