Studdy AI Logo
Math  /  Numbers & Operations

QuestionQuestion 13 (1 point) On January 2, 2004, the TSX Composite Index was 8293.70. On January 2, 2009, the TSX Composite Index was 9234.11. By what factor did the index grow from January 2, 2004 to January 2, 2009? A) 10.184 B) 11.339 C) 1.113 D) 0.898 Previous Page Next Page Page 13 of 16 Submit Quiz 12 of 16 questions saved

Studdy Solution

STEP 1

1. The TSX Composite Index on January 2, 2004, was 8293.70 8293.70 .
2. The TSX Composite Index on January 2, 2009, was 9234.11 9234.11 .
3. We need to find the factor by which the index grew over this period.

STEP 2

1. Define the growth factor.
2. Calculate the growth factor.
3. Compare the calculated growth factor with the given options.

STEP 3

Define the growth factor as the ratio of the index value in 2009 to the index value in 2004.
Growth Factor=Index in 2009Index in 2004 \text{Growth Factor} = \frac{\text{Index in 2009}}{\text{Index in 2004}}

STEP 4

Substitute the given values into the growth factor formula.
Growth Factor=9234.118293.70 \text{Growth Factor} = \frac{9234.11}{8293.70}

STEP 5

Calculate the growth factor.
Growth Factor=9234.118293.70≈1.113 \text{Growth Factor} = \frac{9234.11}{8293.70} \approx 1.113

STEP 6

Compare the calculated growth factor with the given options.
The calculated growth factor 1.113 1.113 matches option C.
The factor by which the index grew is:
1.113\boxed{1.113}

Was this helpful?

Studdy solves anything!

banner

Start learning now

Download Studdy AI Tutor now. Learn with ease and get all help you need to be successful at school.

ParentsInfluencer programContactPolicyTerms
TwitterInstagramFacebookTikTokDiscord