In a market economy the factors of production are allocated by

Your Economics instructor assigns your class to investigate factors associated with the gross domestic product (GDP) of nations.

emmainna [20.7K]

Answer:

The Correlation analysis “R” is measured to compute the strength of relationship among variables. Moreover, the value of correlation is calculated among -1 to +1. Which implies that if the computed value is near to -1 then there will be strong but negative relation and if near to +1 then it is strong but relation among the variable. However zero is consider as neutral point.

A. The computed value of correlation is - 0.772. The value identifies that that there is a strong but negative association among the variables (GDP and infant mortality rate).

B. The correlation analysis cannot computed among the variables continent and GDP because "continent" is a categorical variable not quantitative.

C. The computed value of correlation is higher than 1. Thus, the statement implies that there is a very strong relationship among life expectancy and GDP which is incorrect. As the association cannot be higher than 1.

D. There is a strong relationship among literacy rate and GDP as the relationship is nearer to 1. Furthermore, the association among literacy rate and GDP doesn’t suggest the causation.

E. The computed correlation among the variables is 0.90. Which indicated that the variables goes up. That is, when the GDP goes down the import is also decrease and when GDP increases the import increases Thus, the there is a positive correlation.

3 0

2 years ago

Which of the following systems would you use to determine which trends in your supplier's industry will affect your firm the mos

irakobra [83]

Answer:

ESS

Explanation:

Management support system are computer based system that are used by managers in carrying out their functions.It consists of Executive support system , Decision support system ,Expert system.

Executive support system is an arm of MSS that facilitates and assist seniors executive information and decision making needs.

It is an intermediary between internal and external information in connection to the organization goal.

8 0

3 years ago

Compensation for your employer over and above your income describes:

nata0808 [166]

The compensation that can be provided to the employer over and above employee's income could be an Insurance payment or accumulated Tax refund.

<h3>What is Insurance?</h3>

Insurance is a financial plan that promises to mitigate any loss suffers.

<h3>What is Tax refund?</h3>

A tax refund entails money return to an organization if they pay more tax than they should.

In conclusion, the compensation that can be provided to the employer over and above employee's income could be an Insurance payment or accumulated Tax refund.