For Exercise 1.33, see page 24; for 1.34 and 1.35, see page 25; for 1.36 to 1.38, see page 26; for 1.39, see page 27; for 1.40 to 1.42, see pages 30-31; for 1.43, see page 32; and for 1.44 and 1.45, see page 33.
1.39 Gross domestic product.
gdpa
The success of companies expanding to developing regions of the world depends in part on the prosperity of the countries in those regions. Here are World Bank data on the growth of gross domestic product (percent per year) for 2013 for 13 countries in Asia:19
Country | Growth |
---|---|
Bangladesh | 6.1 |
China | 7.8 |
Hong Kong | 1.4 |
India | 6.5 |
Indonesia | 6.2 |
Japan | 2.0 |
Korea (South) | 2.0 |
Malaysia | 5.6 |
Pakistan | 3.7 |
Philippines | 6.6 |
Singapore | 1.3 |
Thailand | 6.4 |
Vietnam | 5.0 |
1.39
(b) One group has 5.0 or more growth; the other group has 3.7 or less growth. (c) The mean growth rate is 4.66. Because the distribution is left-skewed, the mean is not a good measure of center. (d) The median growth rate is 5.6. Because the distribution is left-skewed, the median is a good measure of center. (e) The mean for group 1, 2.08, is much lower than the mean for group 2, 6.275. The split summaries are much better representations of the groups because there is no longer a large gap in the datasets. The gross domestic product of these countries is much better explained by the two distinct groups.