3. Figure 6.23 is a scatterplot of data from the World Bank. The individuals are all the world's nations for which data are available. The explanatory variable is a measure of how rich a country is, which is 80 Costa Rica 70 USA 60 Namibia 50 Gabon Botswana 40 5000 10,000 20,000 Gross domestic product per person Figure 6.23 A scatterplot of the life expectancy of people 25,000 30,000 15,000 in many nations against each nation's GDP per person, for Exercise 3. Life expectancy (years) ng Data: Relationships the gross domestic product (GDP) per person. GDP is the total value of the goods and services produced in a country, converted into dollars. The response variable is life expectancy at birth. Three African nations are outliers, with lower life expectancy than usual for their GDP. A full study would ask what special circumstances explain the ot these outliers. (a) Describe the direction and form of the relationship. Aside from the outliers, it is moderately strong. gth) (b) Explain why the direction and form of this al? relationship make sense.

3. Figure 6.23 is a scatterplot of data from the World Bank. The individuals are all the world's nations for which data are available. The explanatory variable is a measure of how rich a country is, which is 80 Costa Rica 70 USA 60 Namibia 50 Gabon Botswana 40 5000 10,000 20,000 Gross domestic product per person Figure 6.23 A scatterplot of the life expectancy of people 25,000 30,000 15,000 in many nations against each nation's GDP per person, for Exercise 3. Life expectancy (years) ng Data: Relationships the gross domestic product (GDP) per person. GDP is the total value of the goods and services produced in a country, converted into dollars. The response variable is life expectancy at birth. Three African nations are outliers, with lower life expectancy than usual for their GDP. A full study would ask what special circumstances explain the ot these outliers. (a) Describe the direction and form of the relationship. Aside from the outliers, it is moderately strong. gth) (b) Explain why the direction and form of this al? relationship make sense.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter32: Macroeconomic Policy Around The World

Section: Chapter Questions

Problem 30P: Retrieve the following data from The World Bank database (http //databank.worldbank. org/data/...

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