The Geometric Mean Growth Rate of Sales for Used Cars

question 135

Short Answer

The geometric mean growth rate of sales for used cars in a geographic area from 2005 to 2009 was 16.42 percent.Annual sales in 2005 were $14.2 million.Find the ending value of sales after this four-year period.

---

Definitions:

Suppliers

Suppliers are businesses or individuals that provide goods or services to another entity, under specified terms, usually through a contract.

Just-In-Time (JIT)

A production strategy that strives to improve a business's return on investment by reducing in-process inventory and associated carrying costs.

Manufacturing Firms

Entities engaged in the industrial production of goods, transforming raw materials into finished products for distribution.

Demand-Pull

A production strategy where production is based on customer demand, pulling products through the manufacturing process to meet specific orders.