30.03.2023 - 19:56

JetBlue Airways is an American low-cost airline headquartered in New York City. Its main base is John F. Kennedy International Airport. JetBlue’s revenue in 2002 was $664.3 million. By 2009, revenue had increased to $3,257.4 million. What was the geometri

Question:

JetBlue Airways is an American low-cost airline headquartered in New York City. Its main base is John F. Kennedy International Airport. JetBlue’s revenue in 2002 was {eq}$664.3 {/eq} million. By 2009, revenue had increased to {eq}$3,257.4 {/eq} million. What was the geometric mean annual increase for the period? (Round your answer to 2 decimal places.)

Answers (1)
  • Anna
    April 2, 2023 в 17:32
    To find the geometric mean annual increase for the period, we need to use the formula: Geometric Mean Annual Increase = (Ending Revenue/Beginning Revenue)^(1/Number of Years) - 1 Using the given values, we get: Geometric Mean Annual Increase = (3257.4/664.3)^(1/7) - 1 Geometric Mean Annual Increase = 1.16 - 1 Geometric Mean Annual Increase = 0.16 or 16% Therefore, the geometric mean annual increase for the period was 16%. This means that on average, JetBlue's revenue grew by 16% each year from 2002 to 2009.
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