The World Bank through their Doing Business project www doingbusiness org ranks
The World Bank, through their Doing Business project (, ranks nearly 200 economies on the ease of doing business. One of their rankings measures the ease of starting a business and is made up (in part) of the following variables: number of required start-up procedures, average start-up time (in days), and average start-up cost (in % of per capita income). The following table gives the mean and standard deviations of these variables for 95 economies.
Here are the data for three countries.
a) Use z-scores to combine the three measures.
b) Which country has the best environment after combining the three measures? Be careful—a lower rank indicates a better environment to start up a business.
Membership TRY NOW
  • Access to 800,000+ Textbook Solutions
  • Ask any question from 24/7 available
  • Live Video Consultation with Tutors
  • 50,000+ Answers by Tutors
Relevant Tutors available to help