Reference no: EM133245840

Using the dataset below. This dataset includes the value of US real GDP, measured in billion dollars .

1. Compute the arithmetic mean for real GDP over the last two decades: from 2001 to 2020. (Just put the numerical value of the mean, measured in billion dollars, no need to put the unit of measurement. Round up your answer to two decimal points.)

2. Compute the sample standard deviation for real GDP over the last two decades: from 2001 to 2020. (Just put the numerical value of the standard deviation, measured in billion dollars, no need to put the unit of measurement. Round up your answer to two decimal points.)

3. Compute the geometric mean for the GDP growth rate over the last two decades: from 2001 to 2020. Report your answer in its decimal representation (rather than percentages). Round up your answer to three decimal points.

4. Compute the median GDP growth rate over the last two decades: from 2001 to 2020. Report your answer in its decimal representation (rather than percentages). Round up your answer to three decimal points.

5. Compute the interquartile range for the GDP growth rate over the last two decades: from 2001 to 2020. Report your answer in its decimal representation (rather than percentages). Round up your answer to four decimal points. (Hint: First, research the idea behind interquartile range. Then, make sure use of =QUARTILE function in Excel to compute the interquartile range).

Multiple Choice:

6. Making a comparison between the real GDP growth rate between 1980 and 2000 and the real GDP growth rate between 2001 and 2020. Then choose the correct statement below:

a. Medians suggest that growth was more impressive in the former period (1980-2000), compared to the later period (2001-2020). The geometric mean rates suggest otherwise.

b. Growth was less impressive in the former period (1980-2000), compared to the later period (2001-2020). That is evident from the geometric mean and the median rates.

c. Growth was more impressive in the former period (1980-2000), compared to the latter period (2001-2020). That is evident from the geometric mean and the median rates.

d. Geometric means suggest that growth was more impressive in the former period (1980-2000), compared to the latter period (2001-2020). The median rates suggest otherwise.

e. Medians suggest that growth was less impressive in the former period (19080-2000), compared to the latter period (2001-2020). The geometric mean rates suggest otherwise.

f. Geometric means suggest that growth was less impressive in the former period (1980-2000), compared to the latter period (2001-2020). The median rates suggest otherwise.

Date Real_GDP_Billion_Dollars Real_GDP_Growth_Rate

1980 6759.181 -0.002567556
1981 6930.71 0.025377262
1982 6805.758 -0.01802878
1983 7117.729 0.045839236
1984 7632.812 0.072366273
1985 7951.074 0.041696525
1986 8226.392 0.034626454
1987 8510.99 0.034595788
1988 8866.499 0.041770552
1989 9192.134 0.036726476
1990 9365.494 0.018859603
1991 9355.355 -0.001082618
1992 9684.892 0.035224426
1993 9951.503 0.027528521
1994 10352.432 0.040288313
1995 10630.321 0.026842848
1996 11031.35 0.037725038
1997 11521.938 0.04447221
1998 12038.283 0.044814053
1999 12610.491 0.047532381
2000 13130.987 0.04127478
2001 13262.079 0.009983465
2002 13493.065 0.017416971
2003 13879.129 0.028612033
2004 14406.383 0.037988985
2005 14912.509 0.035132085
2006 15338.257 0.028549723
2007 15626.03 0.018761764
2008 15604.688 -0.001365798
2009 15208.834 -0.025367586
2010 15598.754 0.025637682
2011 15840.664 0.015508339
2012 16197.008 0.022495474
2013 16495.37 0.01842081
2014 16912.038 0.02525971
2015 17432.17 0.03075515
2016 17730.509 0.017114249
2017 18144.105 0.023326813
2018 18687.786 0.029964623
2019 19091.662 0.021611776
2020 18426.077 -0.034862601