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The number of Internet users in Latin America grew from 25.8 million in 2009 to 70.6...

The number of Internet users in Latin America grew from 25.8 million in 2009 to 70.6 million in 2016. Use the geometric mean to find the annual growth rate. (Round your answer to 2 decimal places.)
  
Mean annual growth rate: %

Math   Statistics-And-Probability   
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Answer #1

For calculating average growth rate of a time series we use the following formula

where Xn is the data value of the last year = 70.6

         X0 is the data value of the first year = 25.8

         n is the sample size = 2016 -2009 =7

rGEO = (70.6 / 25.8)(1/7) -1

rGEO =0.1546 = 0.15 million  

Mean annual growth rate: 15.46%

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