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 onaverage? What type of average do you have to use?Solution: around 50,66%, using the geometric mean.

Say, initially the value of the piece of art was 1 . The value of the piece of art increases by 50%…

Answered: 4. Let's say you own a piece of art…

Elementary Algebra

17th Edition

ISBN:9780998625713

Author:Lynn Marecek, MaryAnne Anthony-Smith

Publisher:Lynn Marecek, MaryAnne Anthony-Smith

Chapter3: Math Models

Section3.2: Solve Percent Applications

Problem 3.37TI: Find the percent decrease. (Round to the nearest tenth of a percent.) The population of North Dakota...

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Similar questions

Stock Market During the week of June 22, 2009, the closing numbers of the Dow Jones Industrial Average each day were: What was the overall change for the week? Was it positive or negative?
A manufacturer estimates that 15,500 pieces per day could be produced with the installation of new machinery. The machines now used produce 11,000 pieces per day. What percent increase in production would be gained by replacing the present machinery with new machinery? Round the answer to the nearest whole percent.
Use this data for the exercises that follow: In 2013, there were roughly 317 million citizens in the United States, and about 40 million were elderly (aged 65 and over).[34] 56. If you meet a U.S. citizen, what is the percent chance that the person is elderly? (Round to the nearest tenth of a percent.)
Use this data for the exercises that follow: In 2013, there were roughly 317 million citizens in the United States, and about 40 million were elderly (aged 65 and over).[34] 57. If you meet five U.S. citizens, what is the percent chance that exactly one is elderly? (Round to the nearest tenth of a percent.)
TRY IT: 5.106 Find the median of the data set: 21, 25, 19, 17, 22, 18, 20, 24.
Use this data for the exercises that follow: In 2013, there were roughly 317 million citizens in the United States, and about 40 million were elderly (aged 65 and over).[34] 58. If you meet five U.S. citizens, what is the percent chance that three are elderly? (Round to the nearest tenth of a percent)
Find the percent decrease. (Round to the nearest tenth of a percent.) The population of North Dakota was about 672,000 in 2010. The population is projected to be about 630,000 in2020.

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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.