Question

The U.S. Federal Aviation Administration reported that passenger revenues on international flights increased from $528 million in 1986 to $5,100 million in 2009. What is the geometric mean annual percent increase in international passenger revenues?

Answer 1

10.36 %

Step-by-step explanation:

given,

It is reported that there is increase in revenue of international flight from $528 million in 1986 to $5,100 million in 2009.

to calculate the geometric mean annual percentage

=
`1 -((\$ 5100)/(\$ 528))^{(1)/(2009-1986)}`

= 1 - 1.1036

= 0.1036 = 10.36 %

hence, the geometric mean annual percentage increase in international passenger revenues is 10.36%