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Expand Your Knowledge: Geometric
To find the average growth factor over 5 years of an investment in a mutual fund with growth rates of 10% the first year, 12% the second year, 14.8% the third year, 3.8% the fourth year, and 6% the fifth year, take the geometric mean of 1.10, 1.12, 1.48, 1.038, and 1.06. Find the average growth factor of this investment.
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Chapter 3 Solutions
Understanding Basic Statistics
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