SOLUTION: In 1997, a total of 14,968,000 taxpayers in the United States filed their individual tax returns electronically. By the year 2009, the number increased to 78,829,000. What is the g

Algebra ->  Probability-and-statistics -> SOLUTION: In 1997, a total of 14,968,000 taxpayers in the United States filed their individual tax returns electronically. By the year 2009, the number increased to 78,829,000. What is the g      Log On


   

Question 1018555: In 1997, a total of 14,968,000 taxpayers in the United States filed their individual tax returns electronically. By the year 2009, the number increased to 78,829,000. What is the geometric mean annual increase for the period? (Round your answer to 2 decimal places.)
Answer by FrankM(1040) About Me  (Show Source):
You can put this solution on YOUR website!
78829/14968= 5.2665
5.2665^(1/22)= 1.07844 or 7.84% growth per year.