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Math Help - [SOLVED] Calculating When A Number Doubles

  1. #1
    jlg
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    [SOLVED] Calculating When A Number Doubles

    I am working on a statistics project, and one of the questions asks calculate how long (in years) it takes for average salaries to double. It gives a list of average baseball player salaries for each year. I have looked through my textbook and I can't find any equations for calculating this. Maybe this is incredibly easy and I am just overlooking it. I believe that it would be important to note that the salaries do not increase at a constant rate of change, and that, for some years, the average salary is less than a previous year as can be seen in the problem here:
    1989- $512,930
    1990- $578,930
    1991- $891,188
    1992- $1,084,408
    1993- $1,120,254
    1994- $1,188,679
    1995- $1,071,029
    1996- $1,176,967
    1997- $1,383,578
    1998- $1,441,406
    1999- $1,720,050
    2000- $1,988,034
    2001- $2,264,403
    2002- $2,383,235
    2003- $2,555,476
    2004- $2,486,609
    2005- $2,632,655
    2006- $2,866,544

    Average salaries doubled approximately every _______ years?

    Is there some way to do this with Excel?
    Last edited by mr fantastic; March 10th 2009 at 05:58 PM. Reason: Question restored - again.
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  2. #2
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    Quote Originally Posted by jlg View Post
    I am working on a statistics project, and one of the questions asks calculate how long (in years) it takes for average salaries to double. It gives a list of average baseball player salaries for each year. I have looked through my textbook and I can't find any equations for calculating this. Maybe this is incredibly easy and I am just overlooking it. I believe that it would be important to note that the salaries do not increase at a constant rate of change, and that, for some years, the average salary is less than a previous year as can be seen in the problem here:

    1989- $512,930

    1990- $578,930

    1991- $891,188

    1992- $1,084,408

    1993- $1,120,254

    1994- $1,188,679

    1995- $1,071,029

    1996- $1,176,967

    1997- $1,383,578

    1998- $1,441,406

    1999- $1,720,050

    2000- $1,988,034

    2001- $2,264,403

    2002- $2,383,235

    2003- $2,555,476

    2004- $2,486,609

    2005- $2,632,655

    2006- $2,866,544



    Average salaries doubled approximately every _______ years?



    Is there some way to do this with Excel?
    May I ask how you solved this?
    Last edited by mr fantastic; March 10th 2009 at 06:20 AM. Reason: Added the quote
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