If Output Per Capita Grows by a Constant 6% Per

question 12

Multiple Choice

If output per capita grows by a constant 6% per year, then the standard of living would grow by about over 3 years.

• A) 15%
• B) 20%
• C) 12%
• D) 23%
• E) 19%

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Definitions:

Z-score

A statistical measure representing the number of standard deviations a data point is from the mean of a distribution.

Standard Deviation

An indicator that calculates the degree to which data points vary or are spread out in a dataset.

IQR

The interquartile range, a measure of variability, expressed as the difference between the 25th and 75th percentiles of the data.

Median

The middle value in a data set, which divides the data into two halves when arranged in order.