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.

Question 1.43

1.43 Time to start a business.

TTS24

TTS25

CASE 1.2 Verify the statement in the last bullet above using the data on the time to start a business. First, use the 24 cases from Case 1.2 (page 23) to calculate a standard deviation. Next, include the country Suriname, where the time to start a business is 208 days. Show that the inclusion of this single outlier increases the standard deviation from 14 to 41.

1.43

Without Suriname: . With Suriname: .