Instructions: The included spreadsheet titled "Data Exercise 5.xlsx" contains The FraserInstitute's index of Economic Freedom for 2015.Suppose that through much study ofthe index methodology you determine that an index value less than 7.0 represents aneconomically restrictive country which we would expect to be inhospitable toinvestment andinnovationandthus experience weaklong-rungrowth.You would liketoidentify whether thecountries in Asiaareon averageinhospitabletogrowth.

Country	Content	Index
Albania	Europe	7.54
Hong Kong	Asia	8.95
Singapore	Asia	8.8
New Zealand	Australia	8.48
Switzerland	Europe	8.42
Ireland	Europe	8.18
United Kingdom	Europe	8.04
Mauritius	Africa	8.03
Georgia	Asia	8.01
Australia	Australia	8
Estonia	Europe	7.95
Lithuania	Europe	7.94
Canada	North America	7.93
United States	North America	7.93
Chile	South America	7.79
Cyprus	Asia	7.79
Latvia	Europe	7.77
Denmark	Europe	7.74
Finland	Europe	7.73
Netherlands	Europe	7.73
Romania	Europe	7.73
Malta	Europe	7.71
Taiwan	Asia	7.7
Guatemala	North America	7.69
Germany	Europe	7.68
Norway	Europe	7.67
Austria	Europe	7.65
Luxembourg	Europe	7.64
Sweden	Europe	7.64
Armenia	Asia	7.6
Panama	North America	7.6
Rwanda	Africa	7.56
Korea, South	Asia	7.55
Portugal	Europe	7.54
Spain	Europe	7.52
Costa Rica	North America	7.51
Japan	Asia	7.49
Unit. Arab Em.	Asia	7.49
Czech Rep.	Europe	7.48
Israel	Asia	7.48
Jordan	Asia	7.47
Peru	South America	7.47
Philippines	Asia	7.47
Mongolia	Asia	7.45
Belgium	Europe	7.44
Qatar	Asia	7.43
Seychelles	Africa	7.42
Bulgaria	Europe	7.39
Bahrain	Asia	7.37
Botswana	Africa	7.37
Poland	Europe	7.36
France	Europe	7.35
Slovak Rep	Europe	7.33
Italy	Europe	7.31
Bahamas	North America	7.3
Honduras	North America	7.3
Jamaica	North America	7.3
Hungary	Europe	7.29
Nicaragua	North America	7.28
Uganda	Africa	7.26
Gambia, The	Africa	7.24
Dominican Rep.	North America	7.23
Cambodia	Asia	7.2
Iceland	Europe	7.19
Kazakhstan	Asia	7.18
Malaysia	Asia	7.17
Macedonia	Europe	7.16
Uruguay	South America	7.15
El Salvador	North America	7.13
Bhutan	Asia	7.11
Kenya	Africa	7.11
Croatia	Europe	7.05
Slovenia	Europe	7.02
Indonesia	Asia	6.98
Laos	Asia	6.98
Mexico	North America	6.96
Paraguay	South America	6.92
Tanzania	Africa	6.92
Lebanon	Asia	6.91
Kyrgyz Republic	Asia	6.9
Turkey	Asia	6.83
Tajikistan	Asia	6.8
Liberia	Africa	6.79
Swaziland	Africa	6.79
Brunei Darussalam	Asia	6.77
Montenegro	Europe	6.77
Namibia	Africa	6.76
Serbia	Europe	6.76
Thailand	Asia	6.74
Zambia	Africa	6.74
Fiji	Asia	6.68
Suriname	South America	6.68
Cape Verde	Africa	6.67
Sri Lanka	Asia	6.66
Oman	Asia	6.64
South Africa	Africa	6.64
Bosnia and Herzegovina	Europe	6.62
Kuwait	Asia	6.62
India	Asia	6.61
Russia	Asia	6.61
Lesotho	Africa	6.57
Moldova	Europe	6.57
Haiti	North America	6.53
Ghana	Africa	6.52
Belize	North America	6.51
Nepal	Asia	6.5
Trinidad & Tob.	North America	6.5
Barbados	North America	6.48
Guyana	South America	6.45
Madagascar	Africa	6.44
Pap. New Guinea	Asia	6.43
Colombia	South America	6.41
China	Asia	6.39
Azerbaijan	Asia	6.38
Nigeria	Africa	6.37
Greece	Europe	6.36
Tunisia	Africa	6.33
Bangladesh	Asia	6.32
Morocco	Africa	6.31
Vietnam	Asia	6.3
Timor-Leste	Asia	6.29
Saudi Arabia	Asia	6.24
Yemen, Rep.	Asia	6.18
Senegal	Africa	6.16
Burundi	Africa	6.1
Bolivia	South America	6.05
Cameroon	Africa	5.92
Pakistan	Asia	5.92
Ecuador	South America	5.91
Mali	Africa	5.89
Cote d'Ivoire	Africa	5.88
Burkina Faso	Africa	5.87
Malawi	Africa	5.87
Benin	Africa	5.78
Sierra Leone	Africa	5.78
Brazil	South America	5.77
Gabon	Africa	5.76
Guinea	Africa	5.75
Egypt	Africa	5.74
Niger	Africa	5.74
Togo	Africa	5.7
Guinea-Bissau	Africa	5.65
Mozambique	Africa	5.63
Zimbabwe	Africa	5.62
Mauritania	Africa	5.56
Ethiopia	Africa	5.53
Congo, Dem. R.	Africa	5.46
Angola	Africa	5.4
Ukraine	Europe	5.38
Iran	Asia	5.3
Chad	Africa	5.27
Myanmar	Asia	5.26
Syria	Africa	5.22
Libya	Africa	4.95
Argentina	South America	4.88
Algeria	Africa	4.85
Congo, Rep. Of	Africa	4.81
Central Afr. Rep.	Africa	4.62
Venezuela	South America	2.96