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3 years ago

How do economics measure a nations standard of living

1 answer:

3 0

Yet there is a generally accepted measure for standard of living: average real gross domestic product (GDP) per capita. Let's break it down piece by piece: GDP measures annual economic output — the total value of new goods and services produced within a country's borders.

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Find the value of the third quartile (the median of the upper half of the data set). 52, 54, 55, 55, 57, 58, 59, 59, 61, 61, 61,

serious [3.7K]

Answer:

64.5

Step-by-step explanation:

You understand the question, and already have the numbers in order, you're almost there!

So you need to find the median first so you can divide the data set into the upper and lower halves. The median, as you probably know, is the center of the data. What I do for this is list all the numbers out in order, like you've already done, and start crossing them out, one at a time, alternating the sides. I'll show you what I mean. (I'm using underline because there's no strikethrough.)

52, 54, 55, 55, 57, 58, 59, 59, 61, 61, 61, 62, 63, 63, 64, 65, 65, 68, 70, 72

52, 54, 55, 55, 57, 58, 59, 59, 61, 61, 61, 62, 63, 63, 64, 65, 65, 68, 70, 72

52, 54, 55, 55, 57, 58, 59, 59, 61, 61, 61, 62, 63, 63, 64, 65, 65, 68, 70, 72

52, 54, 55, 55, 57, 58, 59, 59, 61, 61, 61, 62, 63, 63, 64, 65, 65, 68, 70, 72

52, 54, 55, 55, 57, 58, 59, 59, 61, 61, 61, 62, 63, 63, 64, 65, 65, 68, 70, 72

...and so on, until you have:

52, 54, 55, 55, 57, 58, 59, 59, 61, 61, 61, 62, 63, 63, 64, 65, 65, 68, 70, 72

Because there's an even number of numbers, the median is the mean of the middle two numbers. Luckily, though, the two numbers in the middle are the same:61. Mean is calculated by adding the terms and dividing by the number of terms. In this case:

(61+61)/2

=61

(You didn't really have to do this mean step, but I'll explain later.)The median is 61. Another way you could have done this is by just counting the number of terms (20) and finding the middle one. Again, since there's no middle one, you'd have to find the mean.

Since you're looking for the third quartile and not the median, you didn't exactly have to do that step. I just wanted to explain how to calculate the median, since you'll have to do it in the next step. All we had to do here was divide the data set into the halves, so we used that visual demonstration by underlining the numbers one at a time. We didn't have to find the mean, we could have split the set down the middle instead.

52, 54, 55, 55, 57, 58, 59, 59, 61, 61, | 61, 62, 63, 63, 64, 65, 65, 68, 70, 72

^median/half-way point

We could have also divided the number of terms (20) by 2 (because halves, 2 parts) to get 10 and used the upper 10 values of the set, but I don't know, the crossing out method helps me. Anyway, now we have to look at just the upper 10 values:

61, 62, 63, 63, 64, 65, 65, 68, 70, 72

And you repeat the process! (I'm not going to show the underlining though lol)

There are 10 terms, so the median is between the 5th and the 6th. (10/2=5)

61, 62, 63, 63, 64, 65, 65, 68, 70, 72

This is what I was talking about, there are an even number of values in the upper half of the data set as well, so we have to find the mean of the middle 2: 64 and 65.

(64+65)/2

=129/2

=64.5

That's your final answer. Hope I could help you!

7 0

3 years ago

Read 2 more answers

What is the slope of the line?

Vesnalui [34]

It's a flat horizontal line so the slope is 0

Slope = rise/run = 0/run = 0

The "run" can be any number you want as long as it's not 0.

4 0

3 years ago

Read 2 more answers

Evaluate-2x3 - 2x2 - 4x-2 for x=-2. A.-18 B. 16 C. -2 D. 14

dmitriy555 [2]

Answer:

Step-by-step explanation:

-2x^3 - 2x^2 - 4x-2

Let x = -2

-2 (-2)^3 - 2 (-2)^2 -4(-2) -2

Exponents first

-2 (-8) -2 (4) -4(-2) -2

Then multiply

16 -8 +8 -2

Then add and subtract

4 0

3 years ago

Ginny is studying a population of frogs. She determines that the population is decreasing at an average rate of 3% per year. Whe

Rama09 [41]

You can see how this works by thinking through what's going on.

In the first year the population declines by 3%. So the population at the end of the first year is the starting population (1200) minus the decline: 1200 minus 3% of 1200. 3% of 1200 is the same as .03 * 1200. So the population at the end of the first year is 1200 - .03 * 1200. That can be written as 1200 * (1 - .03), or 1200 * 0.97

What about the second year? The population starts at 1200 * 0.97. It declines by 3% again. But 3% of what??? The decline is based on the population at the beginning of the year, NOT based no the original population. So the decline in the second year is 0.03 * (1200 * 0.97). And just as in the first year, the population at the end of the second year is the population at the beginning of the second year minus the decline in the second year. So that's 1200 * 0.97 - 0.03 * (1200 * 0.97), which is equal to 1200 * 0.97 (1 - 0.03) = 1200 * 0.97 * 0.97 = 1200 * 0.972.

So there's a pattern. If you worked out the third year, you'd see that the population ends up as 1200 * 0.973, and it would keep going like that.

So the population after x years is 1200 * 0.97x

5 0

3 years ago

Help me solve this question please for 10 points

ankoles [38]

Answer: D for the first one and B for the second

Step-by-step explanation:

3 0

2 years ago