The geometric mean is 6833.049
The value of fund in 1999 is 5,700
value of fund in 2009 is 8,064
We need to find the geometric mean annual percent increase in the number of funds.
The geometric mean is the average of a set of products, it is defined as the compounding effect of the numbers in the series in which the numbers are multiplied by taking nth root of the multiplication.
The calculation of which is commonly used to determine the performance results of an investment or portfolio.
We know, The Geometric mean is = [tex]\sqrt[n]{x_1*x_2*...*x_n}[/tex]
substituting values:
[tex]\\ GM = (5790*8064)^{0.5} = 6833.049[/tex]
Geometric mean is = [tex]\sqrt[n]{x_1*x_2*...*x_n}[/tex]
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