Consider the following observations for a time series: Year 1..........Year 2..........Year 3..........Year 4 1,200............1,280............1,380...........1,520 a. Calculate the

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Consider the following observations for a time series:
Year 1..........Year 2..........Year 3..........Year 4
1,200............1,280............1,380...........1,520
a. Calculate the growth rates for Year 1-Year 2, Year 2-Year 3, and Year 3-Year 4.
b. Calculate the average growth rate.
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