4. Let's say you own a piece of art that increases in value by 50% the first year after you buy it. 20% the second year. and 90% the third year. What was the increase of that piece of art on average? What type of average do you have to use? Solution: around 50,66%, using the geometric mean.
4. Let's say you own a piece of art that increases in value by 50% the first year after you buy it. 20% the second year. and 90% the third year. What was the increase of that piece of art on average? What type of average do you have to use? Solution: around 50,66%, using the geometric mean.
Mathematics For Machine Technology
8th Edition
ISBN:9781337798310
Author:Peterson, John.
Publisher:Peterson, John.
Chapter24: Percent Practical Applications
Section: Chapter Questions
Problem 32A: A manufacturer estimates that 15,500 pieces per day could be produced with the installation of new...
Question
![4. Let's say you own a piece of art that increases in value by 50% the first year after you buy it.
20% the second year. and 90% the third year. What was the increase of that piece of art on
average? What type of average do you have to use?
Solution: around 50,66%, using the geometric mean.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc263892f-36cd-4271-9b72-9100a88ad939%2Fceba492f-8684-4d0d-a20b-fd9bae302cab%2Fv0pozg_processed.png&w=3840&q=75)
Transcribed Image Text:4. Let's say you own a piece of art that increases in value by 50% the first year after you buy it.
20% the second year. and 90% the third year. What was the increase of that piece of art on
average? What type of average do you have to use?
Solution: around 50,66%, using the geometric mean.
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