There Is a Direct Correlation Between Economic Freedom and Prosperity;

question 41

True/False

There is a direct correlation between economic freedom and prosperity; the more economically free a country, the more prosperous it tends to be and vice versa.

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Definitions:

Ranking Data

A method of organizing data by assigning an ordinal or rank order to different values based on their size or importance.

Sample Spearman

Sample Spearman refers to the computation of Spearman's rank correlation coefficient on a sample data set to assess the monotonic relationship between two variables.

Rank Coefficient

A statistical measure that evaluates the strength and direction of a relationship between two ranked variables.

Spearman Rank-Correlation

A nonparametric measure of correlation that assesses how well the relationship between two variables can be described using a monotonic function, based on ranked values.