Name
Instructor:
Course:
Date:
GDP in UAE
|
Year |
GDP % |
|
1995 |
8.14 |
|
1996 |
8.24 |
|
1997 |
7.17 |
|
1998 |
7.15 |
|
1999 |
7.01 |
|
2000 |
6.19 |
|
2001 |
6.21 |
|
2002 |
6.17 |
|
2003 |
11.9 |
|
2004 |
6.14 |
|
2005 |
6.25 |
|
2006 |
6.18 |
|
2007 |
6.19 |
|
2008 |
6.17 |
|
2009 |
1.60 |
|
2010 |
6.21 |
|
2011 |
6.19 |
The gross domestic product of UAE has been stable through out the Years. However, it has been decreasing since 1995. One of the reasons is the economic global crisis, which have had a negative effect on every country in the world. In the year 2009, there was a significant drop of the GDP. This was caused by the unstable world oil prices and other factors affecting the economy. In 2010, the GDP regained its normal figure and it is expected to improve in the coming Years. The improvement will be facilitated by the stable political environment and the increased economic activities. The government is also implementing measures, which will boost the economy (Mehaan & Heddi, n.d ).
Mean
The mean GDP of the seventeen years is 6.21%. The gross domestic product for this country has been stable for the last ten year. Only in 2009 when there was a significant drop to 1.60%.
Median
The middle figure is 8.2. Therefore, this is the median of this data.
Standard deviation
This shows how much this data has deviated form its mean. This data’s standard deviation is 10.37%
Skewness
The distribution of these figures is skewed to the positive side. It is 8.04
Quartile
This is the difference between the lower and upper quartile. It is 5.39.
Hypotheses test Steps
This project will include a hypotheses based on the improvement of the GDP. The X and Y are from a normal distribution and they are independent.
- To test the hypotheses, the t distribution table will be used because the size of sample is large.
- The appropriate degrees of freedom will be determined. This will help assist in reading the table.
- The confidence interval should also be determined before calculation.
- The final answer should show be a range, where the actual figure lies (Freedman, Pisani & Purves, 2007).
Conclusion
These statistics methods assist in analyzing and interpreting data. For example, the measures of dispersion are used to evaluate how much the data has deviated from the mean (Kendall, et al, 1994). The results of the hypotheses test will determine whether there is any growth in the GDP. It is possible to predict the performance of GDP, using these measures. When the government of UAE implements better economic strategies, the GDP is expected to grow (Boudreau & McClave, 2008).
Reference:
Boudreau, N. S., & McClave, J. T. (2008). Student solutions manual, Statistics for business and economics 10e: McClave, Benson, Sincich. Upper Saddle River, NJ: Pearson Prentice Hall.
Freedman, D., Pisani, R., & Purves, R. (2007). Statistics. New York [u.a.: Norton.
Kendall, M. G., Stuart, A., Ord, J. K., Arnold, S. F., & O’Hagan, A. (1994). Kendall‘s advanced theory of statistics. London: Edward Arnold.
Meehan, Paul & Heddi, Mustapha (n.d.). United Arab Emirates : Economic Data : Intute World Guide. (Intute.) Intute.
GDP in UAE
Name:
Instructor:
Course:
Date:
GDP in UAE
|
Year |
GDP % |
|
1995 |
8.14 |
|
1996 |
8.24 |
|
1997 |
7.17 |
|
1998 |
7.15 |
|
1999 |
7.01 |
|
2000 |
6.19 |
|
2001 |
6.21 |
|
2002 |
6.17 |
|
2003 |
11.9 |
|
2004 |
6.14 |
|
2005 |
6.25 |
|
2006 |
6.18 |
|
2007 |
6.19 |
|
2008 |
6.17 |
|
2009 |
1.60 |
|
2010 |
6.21 |
|
2011 |
6.19 |
The gross domestic product of UAE has been stable through out the Years. However, it has been decreasing since 1995. One of the reasons is the economic global crisis, which have had a negative effect on every country in the world. In the year 2009, there was a significant drop of the GDP. This was caused by the unstable world oil prices and other factors affecting the economy. In 2010, the GDP regained its normal figure and it is expected to improve in the coming Years. The improvement will be facilitated by the stable political environment and the increased economic activities. The government is also implementing measures, which will boost the economy (Mehaan & Heddi, n.d ).
Mean
The mean GDP of the seventeen years is 6.21%. The gross domestic product for this country has been stable for the last ten year. Only in 2009 when there was a significant drop to 1.60%.
Median
The middle figure is 8.2. Therefore, this is the median of this data.
Standard deviation
This shows how much this data has deviated form its mean. This data’s standard deviation is 10.37%
Skewness
The distribution of these figures is skewed to the positive side. It is 8.04
Quartile
This is the difference between the lower and upper quartile. It is 5.39.
Hypotheses test Steps
This project will include a hypotheses based on the improvement of the GDP. The X and Y are from a normal distribution and they are independent.
- To test the hypotheses, the t distribution table will be used because the size of sample is large.
- The appropriate degrees of freedom will be determined. This will help assist in reading the table.
- The confidence interval should also be determined before calculation.
- The final answer should show be a range, where the actual figure lies (Freedman, Pisani & Purves, 2007).
Conclusion
These statistics methods assist in analyzing and interpreting data. For example, the measures of dispersion are used to evaluate how much the data has deviated from the mean (Kendall, et al, 1994). The results of the hypotheses test will determine whether there is any growth in the GDP. It is possible to predict the performance of GDP, using these measures. When the government of UAE implements better economic strategies, the GDP is expected to grow (Boudreau & McClave, 2008).
Reference:
Boudreau, N. S., & McClave, J. T. (2008). Student solutions manual, Statistics for business and economics 10e: McClave, Benson, Sincich. Upper Saddle River, NJ: Pearson Prentice Hall.
Freedman, D., Pisani, R., & Purves, R. (2007). Statistics. New York [u.a.: Norton.
Kendall, M. G., Stuart, A., Ord, J. K., Arnold, S. F., & O’Hagan, A. (1994). Kendall‘s advanced theory of statistics. London: Edward Arnold.
Meehan, Paul & Heddi, Mustapha (n.d.). United Arab Emirates : Economic Data : Intute World Guide. (Intute.) Intute.
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