Reference no: EM132400951

Start by opening Rstudio and then creating a new RScript.

Imagine you're in an economics class here at Davis, and you have been talking about the correlation between country GDP (Gross Domestic Product) and child illiteracy rates. You're interested in the topic so you start doing some of your own research and calculations.

1. You find that world GDP is 88 billion and US GDP is 21 billion. create and assign the variables "WorldGDP" and "USGDP" to the values above. Now Create an equation (using the variables you created) in which you find the proportion of US GDP in relation to the world's GDP - assign the outcome of this equation to the variable "USOutputPercentage"

2.After doing this calculation, you realized you mistook trillions for billions and your variables are off. To fix this, reassign the two variables (on two new lines!), WorldGDP and USGDP to the correct values, 88 trillion and 21 trillion respectively. Notice that value of USOutputPercentage won't change since the USGDP and WorldGDP are going up by equal proportions.

3.You find that the five countries with the highest GDP are as follows (all in trillions): US - 21 China - 15 Japan - 5 Germany - 4 India - 3

a. create a variable "Largest5" and assign it to the GDPs of the five countries above (using condensed values such as 21 instead of 21,000,000,000,000 is advised)

b. You are interested in what the largest five economies would look like if they all grew by 3.6% next year. create an equation that uses the "Largest5" variable to answer that question. In the code for this equation, add your name and lab time into a comment.