How to estimate average annual growth rate avg q average annual growth rate = geometric mean = 10 (1+q 1 ) * (1+q 2 )….(1+q t-1 ) * (1+q t ) t = 4 1.2* 1.05*1.151*1.379 = = 4 1.9999 = 1.1892 -1 = 0.1892 or 18.92%
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