The GDP and selected indicators for the United States, years 2019 and 2020, are found below. What is the correlation coefficient of the data? National Accounts, Current Prices, Non-Seasonally Adjusted 2019 2020 Gross Domestic Product, Nominal, Domestic Currency 21,433,226.30 20,932,758.50 Household Consumption Expenditure, incl. NPISHs, Nominal, Domestic Currency 14,544,600.80 14,147,416.30 Government Consumption Expenditure, Nominal, Domestic Currency 2,995,056.00 3,037,173.30 Gross Fixed Capital Formation, Nominal, Domestic Currency 4,454,940.30 4,470,361.50 Change in Inventories, Nominal, Domestic Currency 49,100.00 -76,963.30 Exports of Goods and Services, Nominal, Domestic Currency 2,514,750.80 2,126,394.50 Imports of Goods and Services, Nominal, Domestic Currency 3,125,221.30 2,771,623.50
Inverse Normal Distribution
The method used for finding the corresponding z-critical value in a normal distribution using the known probability is said to be an inverse normal distribution. The inverse normal distribution is a continuous probability distribution with a family of two parameters.
Mean, Median, Mode
It is a descriptive summary of a data set. It can be defined by using some of the measures. The central tendencies do not provide information regarding individual data from the dataset. However, they give a summary of the data set. The central tendency or measure of central tendency is a central or typical value for a probability distribution.
Z-Scores
A z-score is a unit of measurement used in statistics to describe the position of a raw score in terms of its distance from the mean, measured with reference to standard deviation from the mean. Z-scores are useful in statistics because they allow comparison between two scores that belong to different normal distributions.
The GDP and selected indicators for the United States, years 2019 and 2020, are found below. What is the
|
National Accounts, Current Prices, Non-Seasonally Adjusted |
2019 |
2020 |
|
Gross Domestic Product, Nominal, Domestic Currency |
21,433,226.30 |
20,932,758.50 |
|
Household Consumption Expenditure, incl. NPISHs, Nominal, Domestic Currency |
14,544,600.80 |
14,147,416.30 |
|
Government Consumption Expenditure, Nominal, Domestic Currency |
2,995,056.00 |
3,037,173.30 |
|
Gross Fixed Capital Formation, Nominal, Domestic Currency |
4,454,940.30 |
4,470,361.50 |
|
Change in Inventories, Nominal, Domestic Currency |
49,100.00 |
-76,963.30 |
|
Exports of Goods and Services, Nominal, Domestic Currency |
2,514,750.80 |
2,126,394.50 |
|
Imports of Goods and Services, Nominal, Domestic Currency |
3,125,221.30 |
2,771,623.50 |
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