An international institution ranks nearly 200 economies on the ease of doing bus

Question

An international institution ranks nearly 200 economies on the ease of doing business. One of their rankings measures the ease of starting a business and is made up (in part) of the following variables: number of required start-up procedures, average start-up time (in days), and average start-up cost (in % of per capita income). The first accompanying table gives the mean and standard deviations of these variables for 95 economies. The second accompanying table gives the data for three countries. Complete parts (a) and (b) Click the icon to view the data tables a) Use z-scores to combine the three measures Calculate the z-scores for each measurement for all three countries Procedures (#) Time (Days) Cost (%) (Round to two decimal places as needed.) Business Environment Rankings Mean SD Procedures (#) 5.7 2.5 Time (Days) 20.4 16.3 Cost (% 14.1 10.1 Time 40 25 51 Country Procedures Cost 16.7 53.2 20.3 6 Enter your answer in the edit fields

Explanation / Answer

z-score = (X - mean)/sd

procedure time cost 6 40 16.7 14 25 53.2 15 51 20.3 z-scores 0.12 1.202453988 0.257425743 3.32 0.282208589 3.871287129 3.72 1.877300613 0.613861386

Related Questions

Navigate

• Browse (All)
• Browse A
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.