During the past eight years, the demand for Titleist Pro V1 golf balls has increased from 400 units per day to 560 units per day at a local pro shop. What was the average annual compound growth rate over this period? Assume continuous compounding and show your work.

During the past eight years, the demand for Titleist Pro V1 golf balls has increased from 400 units per day to 560 units per day at a local pro shop. What was the average annual compound growth rate over this period? Assume continuous compounding and show your work.

ENGR.ECONOMIC ANALYSIS

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ISBN:9780190931919

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Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

During the past eight years, the
demand for Titleist Pro V1 golf balls
has increased from 400 units per day
to 560 units per day at a local pro
shop. What was the average annual
compound growth rate over this
period? Assume continuous
compounding and show your work.

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