An economist investigated the association between a countrys Literacy Rate and Gross Domestic Product (GDP) and used
Question:
a) The Literacy Rate determines 64% of the GDP for a country.
b) The slope of the line shows that an increase of 5% in Literacy Rate will produce a $1 billion improvement in GDP.
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a R 2 measures the amount of variation explained by the linear model Literacy Rate a...View the full answer
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Related Book For
Business Statistics
ISBN: 9780321925831
3rd Edition
Authors: Norean Sharpe, Richard Veaux, Paul Velleman
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