6 Unions and employers of a corporation sign a 4 year salary agreement In the...
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6 Unions and employers of a corporation sign a 4 year salary agreement In the first year employees salaries increase by 4 in the second year by 3 in the third year by 2 and in the fourth year by 1 a Determine the mean or average salary increase Answer b Calculate the Geometric Mean XG for these data using this format XG 1 0 04 1 0 03 1 0 02 1 0 01 4 1 NOTE The general formula for the geometric mean is 1 X 2 X 3 n The Geometric Mean XG is used to calculate average rates of growth where growth is determined by multiplication also it is used in stock indexes the annual return on the investment portfolio and in other financial calculations
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