Many countries, especially those in Europe, have significant gold holdings. But, many of these countries also have massive debts. The following data show the total value of gold holdings in billions of U.S. dollars and the debt as a percentage of the gross domestic product for nine countries (WordPress and Trading Economics websites, February 24, 2012).CountryGold ValueDebtChina6317.7France14681.7Germany20383.2Indonesia3369.2Italy147119Netherlands3663.7Russia509.9Switzerland6255U.S.48793.2 a. Develop a scatter diagram for the total value of a country’s gold holdings ($ billions) as the independent variable.b. What does the scatter diagram developed in part (a) indicate about the relationship between the two variables? Do there appear to be any outliers and/or influential observations? Explain.c. Using the entire data set, develop the estimated regression equation that can be used to predict the debt of a country given the total value of its gold holdings.

a. Scatter diagram for the total value of a country's gold holdings as the independent variable is-…

Answered: Many countries, especially those in…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

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Many countries, especially those in Europe, have significant gold holdings. But, many of these countries also have massive debts. The following data show the total value of gold holdings in billions of U.S. dollars and the debt as a percentage of the gross domestic product for nine countries (WordPress and Trading Economics websites, February 24, 2012).

Country	Gold Value	Debt
China	63	17.7
France	146	81.7
Germany	203	83.2
Indonesia	33	69.2
Italy	147	119
Netherlands	36	63.7
Russia	50	9.9
Switzerland	62	55
U.S.	487	93.2

a. Develop a scatter diagram for the total value of a country’s gold holdings ($ billions) as the independent variable.

b. What does the scatter diagram developed in part (a) indicate about the relationship between the two variables? Do there appear to be any outliers and/or influential observations? Explain.

c. Using the entire data set, develop the estimated regression equation that can be used to predict the debt of a country given the total value of its gold holdings.

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