The Federal Aviation Administration Reported That Passenger Revenues on International

question 152

Multiple Choice

The Federal Aviation Administration reported that passenger revenues on international flights increased from $528 million in 1977 to $5,100 million in 2000. What is the geometric mean annual percent increase in international passenger revenues?

• A) 10.4
• B) 27.9
• C) 103.6
• D) 9.96
• E) None of the choices are correct.

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Definitions:

Pioneer Products

The first offerings brought to the market in a specific category, often opening new consumer demand or creating a new industry.

Consumer Preferences

The subjective tastes and likes that dictate the choices made by consumers regarding products or services.

Early Adopters

Individuals or businesses who start using a new product, service, or technology soon after it is launched, before the majority of the population does.

Laggards

Consumers who like to avoid change and rely on traditional products until they are no longer available.