Business, 06.05.2020 05:37 BrainlyAvenger
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%."
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Your Economics instructor assigns your class to investigate factors associated with the gross domest...
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