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.

  • CreatedMay 14, 2015
  • Files Included
Post your question