Question 195

Forecast the Growth Rate for the year 1995 from the following data:

Solution

The pattern followed above is :

3.5 + $$0.2^1$$ = 3.7

3.7 + $$0.2^2$$ = 4.1

4.1 + $$0.2^3$$ = 4.9

4.9 + $$0.2^4$$ = 6.5

=> Growth rate in year 1995 = 6.5 + $$0.2^5$$ = 9.7

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