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    Exam Name: CGFM
    Vendor: Certified Government Financial Manager (CGFM)

    60 Questions & Answers
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    NEW QUESTION: 1
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    Answer: C
    Explanation:
    Explanation/Reference:
    Explanation:
    The mean equals (5% + (-6%) + 8% + 3%)/4 = 2.5%
    The geometric mean equals (1.05 * 0.94 * 1.08 * 1.03)

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    (1/4) = 2.36%
    Note that the geometric mean is less than the mean.

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