Suppose That Real GDP Per Capita of Monrovia Is $30,000

question 65

Multiple Choice

Suppose that real GDP per capita of Monrovia is $30,000. RGDP per capita in Westova is $15,000. Suppose that rate of growth of real GDP per capita in Monrovia is 3.17% per year and in Westova it is 6.34% per year. Using the rule of 72, calculate how many years it will take for RGDP per capita in Westova to catch up with RGDP per capita in Monrovia.

• A) approximately 11 years
• B) approximately 23 years
• C) approximately 34 years
• D) approximately 46 years

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Definitions:

Significant Main Effect

A significant main effect is an observed effect in ANOVA that shows a meaningful difference in the dependent variable due to one independent variable, beyond chance.

Crime Area

A geographical region or location known for a higher incidence of criminal activities compared to surrounding areas.

Marginal Means

The average value of a variable across different levels of another variable, commonly used in the analysis of variance.

Significant Main Effect

In statistical analysis, a main effect that has been tested and found to statistically differ significantly from what would be expected by chance.