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Math Help - Definition of Growth

  1. #1
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    Definition of Growth

    What is it that people consider a growth percentage? IOW, I have the following employees.

    2001 - 3
    2002 - 3
    2003 - 5
    2006 - 5
    2007 - 6
    2008 - 8

    How do I calculate the business or employee growth percentage between each year and also the total? It seems as though the term "growth" means different things to different people. They are using different formulas. So what is the standard definition of growth percentage and how would one calculate it?
    Last edited by bonk; May 2nd 2008 at 07:22 AM. Reason: typo
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  2. #2
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    Personnel Growth

    Anybody?


    It should be (8-3) / 3, if I want the growth from 2001 to 2008 right?
    Last edited by bonk; May 2nd 2008 at 07:23 AM.
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  3. #3
    MHF Contributor
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    2001 - 3
    2002 - 3
    2003 - 5
    2006 - 5
    2007 - 6
    2008 - 8

    The fact that a term is ambiguous in your mind suggests one of at least three things,

    1) The author of your text (or perhaps your instructor) has failed to define the term, or
    2) You just missed it.
    3) We don't have the whole question.

    There may be other possibilities, but none is a good choice.

    "Growth" is not a good term, generally. Annual Growth? Percentage Annual Growth? There needs to be more information.

    With your data, Annual Growth is simple enough, excepting 2004, 2005, and 2006. What shall we do? Divide by 3 and hope they all were the same? That MAY be rational.

    Your calculation of (8-3)/3 is the percent growth since 2001. Is that what was asked?

    Mathematics requires definitions.
    Last edited by TKHunny; May 3rd 2008 at 07:47 AM.
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