1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
nirvana33 [79]
3 years ago
5

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

Each student examines a different factor (such as life expectancy, literacy rate, etc.) for a few countries and reports to the class. Apparently some of your classmates do not understand Statistics very well because you know several of their conclusions are incorrect. Explain the mistakes in their statements below: a) "My correlation of -0.772 shows that there is almost no association between GDP and infant mortality rate." b) "There was a correlation of 0.44 between GDP and continent." c) "There was a very strong correlation of 1.22 between life expectancy and GDP." d) "The correlation between literacy rate and GDP was 0.83. This shows that countries wanting to increase their standard of living should invest heavily in education." e) "The correlation of 0.90 means that as GDP goes up, imports drop by 90%."
Business
1 answer:
emmainna [20.7K]3 years ago
3 0

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.

You might be interested in
______ Is a way of saving a file so it can be used by a different program
olasank [31]
The answer to your question is b

5 0
3 years ago
Read 2 more answers
Who is demonstrating entrepreneurship? for bca in high school
ollegr [7]
Ummmmmmmmmmmmmmmmmmmmmmmmmmmmmmm
4 0
3 years ago
Economic analysis is used only by policy makers to make policy decisions. only by business people to raise profits. only by inst
Free_Kalibri [48]

Answer:

The correct answer is: in all decision making.

Explanation:

Economic analysis is used in all walks of life, in decision making. It is not only relevant for policymaking or in business or for students. Rather, it is used in day to day life as well.  

Almost all the decision we make is based on cost-benefit analysis. It used by households and individuals for utility maximization. It is used by businesses for profit maximization and is used by policy makers for welfare maximization.

5 0
3 years ago
A __________ describes the minimum qualifications a person must have to perform the job successfully.
Katena32 [7]
The correct answer here would be a job specification. 
5 0
3 years ago
In its first year of existence (year 1), SCC corporation (a C corporation) reported a loss for tax purposes of $30,000. How much
devlian [24]

Answer:

SCC won't pay any tax

Explanation:

Their loss of $30,000 in year 1 will be unused and made available to counterbalance the total generated earnings in year 2.

The $20,000 earnings in year 2 can be used to counterbalance the whole taxable income; so, SCC will not pay pay tax. SCC will have a ($10,000) loss carryover available for year 3 and beyond

6 0
3 years ago
Other questions:
  • Imagine that you earned $8,425 in one year. If the government enforces a 15% income tax, how much money would you owe in taxes a
    6·1 answer
  • Costs Classification a. Annual picnic for plant employees and their families Period costs-administrative expense b. Cost of fabr
    12·1 answer
  • Stormy Weather has no attractive investment opportunities. Its return on equity equals the discount rate, which is 10%. Its expe
    15·1 answer
  • A(n) ________ is an early user of a firm's product who is willing to give a testimonial regarding his or her experience with the
    13·1 answer
  • Discount factor is 0.985. Stock XYZ is selling for $40 a share. An American option on this stock with a strike price of $38 is t
    5·1 answer
  • A cost function is a mathematical description of how a cost changes with changes in the level of an activity relating to that co
    10·1 answer
  • Flyer Company has provided the following information prior to any year-end bad debt adjustment: Cash sales, $161,000 Credit sale
    14·1 answer
  • purchased decorating machine for $430,000 on January 1, 2020. depreciates machines of this type by the straight-line method over
    12·1 answer
  • A firm has three different investment options. Option A will give the firm $10 million at the end of one year, $10 million at th
    15·1 answer
  • Jagjit Company designs and builds retaining walls for individual customers. On August 1, there were two jobs in process: Job 93
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!