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nimit
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javropu
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bono
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MBA04
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The range is 1 (1.8 million - 0.8 million)

We have 14.3 in 11 years so 14.3 / 11 = 1.3 this is the middle number
1.3-0.8 = 0.5 so the increase per year is 0.1 million
We start with 0.8, 0.9, 1, 1.1, 1.2 ......1.8 (11 numbers)
The range will be the gratest minus the least so 1.8 - 0.8 = 1

hope is OK
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mciatto
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I don't think that is right.

In your case, tha rate of increase from .8 to .9 is not the same (it is greater) as the increase from .9 to 1.0.

Therefore, the increase can't be a constant number, but rather a constant rate.

Not that I know how to solve this, but I don't think that is right...unless of course the problem is worded incorrectly.

Nimit, can you double check the wording, or perhaps provide answer choices?
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MBA04
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mciatto, you are right. I thought it was a constant increase (in quantity) not in rate.
:oops:
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javropu
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i think the only way to solve this problem in 2 min and without calculator is to treat it as an arithmetic progression, rather than as a geometric progression... the answer provided by MBA04 would then be ok... although in my opinion the question is misleading



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