Q1

worth probability (worth)x(probability) (X-E(X))^2 (X-E[X])^2(probability)

1200 0.35 420 230400 80640
1800 0.5 900 14400 7200
2400 0.15 360 518400 77760
ToTAL 1 1680 165600
Expected Value of one unit Variance

Standard Deviation of one unit

406.939798987516

a The expected total worth of 500 units is 840000

This comes from E[aX] = aE[X]

b The standard deviation of 500 units is 203469.899

This comes from the fact that the standard deviation of aX is |a|SD(X)

c Their maximum price for 500 units is 702761.638

The total worth of 500 units follows a normal distribution with mean and standard deviation as co
Thus, we want to get the value S such that P[Z<S]=0.25.
0.25

Page 1
 Q1

iation of one unit

d standard deviation as computed above.

Page 2
Data Source World Development Indicators
Last Updated Date 07/10/2019
Q2a
Country Name Country Code
Austria AUT
Belgium BEL
mean 2.61275484962833
number of data points 58
standard deviation 1.98407920193863
confidence level 0.95
Z-score for alpha/2 -1.95996398454005
Lower Bound for Confidence Interval 2.1021404019263
Upper Bound for Confidence Interval 3.12336929733036
Cyprus CYP
Germany DEU
Euro area EMU
Estonia EST
Finland FIN
France FRA
Greece GRC
Ireland IRL
Italy ITA
Lithuania LTU
Latvia LVA
Luxembourg LUX
mean 3.62610484143944
number of data points 58
standard deviation 3.28652326609001
confidence level 0.95
Z-score for alpha/2 -1.95996398454005
Lower Bound for Confidence Interval 2.78029875631203
Upper Bound for Confidence Interval 4.47191092656685
Malta MLT
Netherlands NLD
mean 2.85578521201053
number of data points 58
standard deviation 2.26332951752738
confidence level 0.95
Z-score for alpha/2 -1.95996398454005
Lower Bound for Confidence Interval 2.27330405378321
Upper Bound for Confidence Interval 3.43826637023785
Slovak Republic SVK
Slovenia SVN
Spain ESP

Q2b
 pvalue (spreadsheet shortcut)
H0: mean(BEL) = mean(LUX) 0.00701960261313063
H1: mean(BEL) is not equal to mean(LUX)

H0: mean(BEL) = mean(NLD) 0.231042031824057

H1: mean(BEL) is not equal to mean(NLD)

H0: mean(NLD) = mean(LUX) 0.0591153708986022

H1: mean(NLD) is not equal to mean(LUX)

There is sufficient evidence to reject the null hypothesis that the average growth rates of BEL and LUX are equ
Indicator Name Indicator Code 1960 1961 1962
GDP growth (annual %) NY.GDP.MKTP.KD.ZG 5.537979317 2.648675113
GDP growth (annual %) NY.GDP.MKTP.KD.ZG 4.978423063 5.212003509

(X-E[X])^2 5.596386097 6.756093595

spreadsheet shortcut
0.5106144
lower bound 2.1021404
upper bound 3.1233693
stdev,p (shortcut) 1.9840792
GDP growth (annual %) NY.GDP.MKTP.KD.ZG
GDP growth (annual %) NY.GDP.MKTP.KD.ZG
GDP growth (annual %) NY.GDP.MKTP.KD.ZG 6.67917995 6.389921184
GDP growth (annual %) NY.GDP.MKTP.KD.ZG
GDP growth (annual %) NY.GDP.MKTP.KD.ZG 7.604670479 2.981945536
GDP growth (annual %) NY.GDP.MKTP.KD.ZG 5.506272437 6.672174626
GDP growth (annual %) NY.GDP.MKTP.KD.ZG 11.1495374 1.533518906
GDP growth (annual %) NY.GDP.MKTP.KD.ZG
GDP growth (annual %) NY.GDP.MKTP.KD.ZG 8.207245914 6.203650458
GDP growth (annual %) NY.GDP.MKTP.KD.ZG
GDP growth (annual %) NY.GDP.MKTP.KD.ZG
GDP growth (annual %) NY.GDP.MKTP.KD.ZG 3.829983122 1.358677671

(X-E[X])^2 0.041566353 5.141225973

spreadsheet shortcut
0.8458061
lower bound 2.7802988
upper bound 4.4719109
stdev,p (shortcut) 3.2865233
GDP growth (annual %) NY.GDP.MKTP.KD.ZG
GDP growth (annual %) NY.GDP.MKTP.KD.ZG 0.295546673 6.843507321

(X-E[X])^2 6.554821378 15.90192762

spreadsheet shortcut
0.5824812
lower bound 2.2733041
upper bound 3.4382664
stdev,p (shortcut) 2.2633295 6.614447769
GDP growth (annual %) NY.GDP.MKTP.KD.ZG
GDP growth (annual %) NY.GDP.MKTP.KD.ZG
GDP growth (annual %) NY.GDP.MKTP.KD.ZG 11.83867419 9.953438103

paired t-test shortcut

 bel,lux
Paired t-test
Alpha
Hypothesized

Mean
Variance
Observations
Pearson Correl
Observed Mean
Variance of the
df
t Stat
erage growth rates of BEL and LUX are equal. P (T<=t) one-ta
t Critical one-ta
P (T<=t) two-ta
t Critical two-ta
 1963 1964 1965 1966 1967 1968 1969
4.138267582 6.124353738 3.480174918 5.642861411 3.008047798 4.472312782 6.275867166
4.351584282 6.956684733 3.56065984 3.155894982 3.868146947 4.194129625 6.629799795

3.023527794 18.86972684 0.898523871 0.295001203 1.576009318 2.50074618 16.1366501

5.767626382 5.487726968 4.964082134 5.264407887 5.262223629 5.542187196 6.953635531

3.285099636 5.238686598 5.302857802 2.372823015 2.168828883 2.303289984 9.593287785

5.347173767 6.518338303 4.778035177 5.214008052 4.688158821 4.25902469 6.990530534
10.13605526 8.258340252 9.39266085 6.098846533 5.481437166 6.664109252 9.899730172

5.609727978 2.797702279 3.26802372 5.984794225 7.178612466 6.544554655 6.098059996

3.43910854 7.865828819 -0.734933604 1.105904112 0.216730812 4.183872427 9.972857943

0.034967617 17.97525941 19.01865633 6.351411715 11.62383128 0.311104679 40.28127494

3.62462153 8.274903931 8.643094936 2.741104335 5.280014747 6.41613404 6.429449078

0.591109285 29.36684769 33.49295384 0.013151704 5.876888838 12.67608378 12.77107342

5.873702116 6.310747383 7.46898853 4.077909434 7.544482529 8.875509234 2.120741162

9.596498874 5.308510246 6.253134899 7.24606031 4.340338417 6.597020138 8.907015555

red t-test shortcut

 bel,nld
Paired t-test
0.05 Alpha 0.05
0 Hypothesized 0
Variable 1 Variable 2 Variable 1 Variable 2
2.61275485 3.626104841 Mean 2.61275485 2.855785212
4.005632916 10.99073053 Variance 4.005632916 5.212531742
58 58 Observations 58 58
0.55640797 Pearson Correl 0.752910786
-1.013349992 Observed Mean-0.243030362
7.612694923 Variance of the 2.337451641
57 df 57
-2.797075905 t Stat -1.210607092
0.003509801 P (T<=t) one-ta 0.115521016
1.672028888 t Critical one-ta 1.672028888
0.007019603 P (T<=t) two-ta 0.231042032
2.002465459 t Critical two-ta 2.002465459
1970 1971 1972 1973 1974 1975 1976
6.321142545 5.114968714 6.207860986 4.890435425 3.942138139 -0.36373574 4.578445403
5.591821536 3.985827325 5.29560445 6.381702078 4.565258059 -1.965941565 5.652745877

8.874838321 1.885328022 7.197681976 14.20496321 3.812268783 20.96446086 9.241545448

20.26629219
3.132699754 4.300341294 4.777486913 0.890068704 -0.866738895 4.949258392
5.464521002 3.798478998 4.917274817 6.176763103 3.218117821 -0.7524306 5.028615076

5.333907792 2.356920312 7.735485518 6.983827975 3.236533613 1.804897704 0.344382966

5.011995625 5.316715875 4.511374088 6.344580668 4.300919049 -0.959884697 4.35675894
7.951269095 7.841176999 10.16015113 8.092378652 -6.438240588 6.366808717 6.851897986
3.469888027 6.48980811 4.721428503 4.260229322 5.656645486 1.394807856
5.268692965 1.818107992 3.690485743 7.125862305 5.500141136 -2.090162924 7.125385155

4.507040707 2.667235889 6.598193038 8.312676859 4.212467577 -6.571371092 2.534331942

0.776047999 0.919429667 8.83330825 21.96395728 0.343821257 103.9885154 1.191968063

2.453993612 5.838327027 4.146138373 10.03640396 19.56008086 17.01708956

6.347895415 4.316980354 3.533874489 5.44422315 3.438717837 0.002028709 4.456309589

12.19483367 2.135091243 0.459805067 6.70001096 0.339810445 8.14392618 2.561678282

12.61260527 6.631652211 8.015696318 11.20067102 1.142860362 -4.347630947 6.900230963

4.290639388 4.649473478 8.149745869 7.788465253 5.61878576 0.542203325 3.303791513

nld,lux
Paired t-test
Alpha 0.05
Hypothesized 0
Variable 1 Variable 2
Mean 2.855785212 3.626104841
Variance 5.212531742 10.99073053
Observations 58 58
Pearson Correl 0.457380446
Observed Mean-0.770319629
Variance of the 9.279450929
df 57
t Stat -1.925856048
P (T<=t) one-ta 0.029557685
t Critical one-ta 1.672028888
P (T<=t) two-ta 0.059115371
t Critical two-ta 2.002465459
1977 1978 1979 1980 1981 1982 1983
5.079980799 -0.210653451 5.356699831 1.731485428 -0.144294518 2.011254366 2.973088021
0.626154796 2.841896605 2.341073009 4.444054045 -0.279283599 0.594986931 0.311842724

3.946579774 0.052505944 0.073811022 3.353656742 8.363886389 4.071387374 5.294196608

16.36200095 7.777403359 9.905569384 5.753244701 2.516998441 6.021708985 5.582181702

3.347218088 3.008492877 4.150363333 1.408828659 0.529240537 -0.394840746 1.572410149
3.081674337 3.130532116 3.844297881 2.156572509 0.51394717 0.717407068 1.381834965

0.239510404 2.91970809 7.121926394 5.389047425 1.294774467 3.087354214 3.121057312

3.464311942 3.978543749 3.549989152 1.578745278 1.069019832 2.505396575 1.240864908
2.941001647 7.246863393 3.282080212 0.677131056 -1.55372125 -1.132647498 -1.078622381
8.211300557 7.186728606 3.073036077 3.079329323 3.325215759 2.283468445 -0.244301198
2.560500797 3.240139803 5.959159446 3.43001638 0.844227627 0.413585665 1.169203492

1.569776234 4.07497187 2.345608822 0.840882426 -0.550950006 1.131296529 2.989077105

4.228487344 0.20148161 1.639670055 7.757463901 17.4477872 6.224068515 0.405804337

12.1841698 11.16115819 10.49077317 7.049711215 3.311762074 2.284452306 -0.612390117

2.52044045 2.696246794 2.014166175 1.341914212 -0.783611621 -1.240756768 2.069958054

0.112456109 0.025452507 0.708322603 2.291805403 13.24520931 16.78165619 0.617524322

5.602597252 2.815966072 5.638937405 4.589340101 1.618103472 2.135375334 -0.173113128

2.838574304 1.463003374 0.041546521 2.208728118 -0.132468613 1.246461706 1.770115779

1984 1985 1986 1987 1988 1989 1990
0.051275253 2.498678471 2.301392801 1.357167984 3.295880207 3.887074788 4.345641561
2.466382675 1.651792828 1.822762115 2.306659454 4.723208902 3.46916681 3.137402452

0.021424813 0.923448006 0.62408852 0.093694391 4.454016308 0.733441445 0.275255107

8.757894384 4.882540772 3.70395029 7.065250812 8.646777846 7.947425531 7.403999506

2.822947834 2.32793522 2.287339269 1.402151574 3.707235669 3.896551724 5.255006086
2.367823435 2.309422324 2.507277429 2.543470847 4.314031623 4.102809059 3.582570633

3.214128124 3.536693192 2.726138081 3.559095975 5.209858683 5.087701647 0.675783494

1.513721578 1.622781348 2.337276381 2.561900319 4.743142174 4.343861066 2.923935137
2.010580399 2.509556558 0.517660103 -2.258863527 4.28786171 3.799999997 0
4.354372516 3.085614974 -0.428330532 4.663091173 5.217414206 5.813919576 8.466527792
3.225852384 2.798085727 2.859971888 3.191960614 4.194377273 3.388383509 1.985774903

6.186938986 2.791706464 9.983934531 3.950977975 8.463283138 9.798061646 5.319932182

6.557871518 0.696220653 40.42199836 0.105542553 23.39829387 38.0930508 2.869051059

0.942370935 2.585279666 3.885190007 4.110514452 8.414236296 8.179105581 6.291390958

3.061679041 2.580179811 2.786975856 1.931248531 3.441218889 4.420118012 4.183222812

0.042392269 0.075958337 0.004734727 0.854768075 0.342732591 2.44713711 1.762090582

-1.879979577 2.807439672 4.140955654 6.381393841 7.489108032 6.440638969 3.950523332

1.784687522 2.321435857 3.253321725 5.547122612 5.094324219 4.827030296 3.781393465

1991 1992 1993 1994 1995 1996 1997
3.441627392 2.093524723 0.526809482 2.402118763 2.667983666 2.349535097 2.093596476
1.833074304 1.530654776 -0.961873071 3.226971477 2.38475719 1.593397043 3.710419622

0.607901753 1.17094057 12.77796477 0.377262065 0.051982933 1.039090338 1.204867952

0.739501203 9.399999016 0.700000488 5.899998701 8.468188453

1.248478882 2.640948963
5.108261508 1.923807011 -0.956165307 2.45737182 1.737640631
0.817897617 1.84920067
2.620650816 1.391832719 -0.651082934 2.478753344 2.480488394
1.722042018 2.723735952
-1.642424312 4.526681727
5.323844874 11.79861872
-5.914425874 -3.32462938 -0.734493304 3.93926095 4.207130673
3.658833063 6.251807841
1.048175829 1.599342687 -0.628666366 2.358342199 2.106695237
1.412993687 2.336296499
3.099999982 0.700000012 -1.600000003 2.000000007 2.099719767
2.862128846 4.484199148
1.929639603 3.343274199 2.692609269 5.755826985 9.634422333
7.691663625 10.89785015
1.538447552 0.83427547 -0.852805758 2.151023645 2.886836739
1.286369404 1.83536199
5.149958426 8.293228719
-1.798788434 2.359019222 8.974129778
8.644190076 1.819652855 4.200648194 3.820921124 1.432200278 1.388428352 5.709717091

25.18117942 3.26326878 0.330100064 0.037953384 4.813217235 5.007196071 4.341440006

6.256492082 4.690932431 4.480749359 5.651104737 6.342493183 3.777335762 5.256980145

2.439134504 1.706070911 1.257552214 2.961092408 3.116035972 3.498742219 4.329053315

0.173597813 1.321842973 2.554348717 0.011089606 0.067730458 0.413393713 2.170518905

4.368206403 1.089476534 -2.043277034 0.96483816 4.282780446 3.496682924 4.42621106

1.901327059 6.205530477 5.843495348 6.757147223 6.06754301
-8.900107027 -5.463699075 2.843418132 5.327487371 4.107160723 3.516280804 5.114380403
2.546000568 0.929215429 -1.031491775 2.383195316 2.757494033 2.674783588 3.689613998
1998 1999 2000 2001 2002 2003 2004
3.581431009 3.556330241 3.375721973 1.267170469 1.651549407 0.941473312 2.735118518
1.975273655 3.563336505 3.633635802 0.811553674 1.780495544 0.774406593 3.63485312

0.406382274 0.903605484 1.042197919 3.244325677 0.692655551 3.379524312 1.044684875

6.110879413 4.997943315 5.965317744 3.95253497 3.722934432 2.623271336 5.026348

1.979618407 1.987134949 2.962045368 1.695471452 0 -0.709906172 1.169970413
2.986937536 2.990510249 3.867011849 2.173779724 1.028573027 0.711073152 2.330114136
4.117257751 -0.856448276 10.56807495 6.328710504 6.076394702 7.416163365 6.294746225
5.428512567 4.444134273 5.634847452 2.580792075 1.680325089 1.993984087 3.926057175
3.588659435 3.421373815 3.923669206 1.983721399 1.135531487 0.823160785 2.829752924
3.894904772 3.072596664 3.919770772 4.131612076 3.922871842 5.794531264 5.060992565
8.669102435 10.52436843 9.456187058 5.319139249 5.928027454 2.954491452 6.570793767
1.616076034 1.55985028 3.710106587 1.772188761 0.24854744 0.151318188 1.581938861
7.467176003 -1.134642895 3.83166714 6.524430875 6.760749533 10.53856477 6.550083027
6.521769035 2.61895438 5.406858484 6.461310185 7.103029906 8.430691218 8.3355468
6.044651468 8.481002825 8.239799112 2.531974923 3.819469797 1.62928705 3.612176707

5.849367783 23.57003443 21.28617482 1.197120278 0.037390006 3.987281291 0.000193993

5.125601231 4.719974882 6.770193911 0.608353735 2.982818376 2.543768573 0.443412531

4.663917239 5.034048109 4.195642466 2.326955127 0.217273557 0.155646051 1.984945703

3.269341426 4.744829249 1.795217462 0.279661259 6.961743752 7.290751488 0.75836145

4.791771446 3.888213395 3.787494001 1.943304626 0.768796311 -0.93420458 1.811583031

4.011813704 -0.205069439 1.210173376 3.316468195 4.522792238 5.418715934 5.258836403
3.285631522 5.274353781 4.15543396 2.949365533 3.836305277 2.842083009 4.351795539
4.305978447 4.48477443 5.289099595 4.001073835 2.879876097 3.187571476 3.166746501
2005 2006 2007 2008 2009 2010 2011
2.244066812 3.454041032 3.727415176 1.460425193 -3.764580483 1.837094592 2.922797636
2.094265657 2.506140238 3.448976401 0.783158196 -2.253171548 2.744231083 1.79830622

0.268831043 0.011366675 0.699266482 3.347423916 23.67723971 0.017286 0.663326571

4.852991308 4.713822102 5.098036578 3.646776516 -2.015241129 1.335403498 0.403429932

0.706713948 3.700159572 3.260535297 1.082315404 -5.618860435 4.079933305 3.660000155
1.704974391 3.241467693 3.076427291 0.474207281 -4.503462969 2.078851071 1.634892866
9.373711454 10.27188409 7.748192368 -5.41945589 -14.72440391 2.259075894 7.597300209
2.779955031 4.055197444 5.184800809 0.720668487 -8.269036558 2.992337502 2.570817745
1.663219998 2.449323602 2.424736238 0.254945947 -2.87331385 1.949437632 2.192700651
0.599142055 5.65243372 3.273746857 -0.335172557 -4.300733667 -5.479037108 -9.132494153
5.667966764 5.044522652 5.309118286 -4.40538057 -5.022238978 1.922042197 3.721000971
0.949666258 2.006586655 1.473868547 -1.050402835 -5.48205504 1.686523403 0.576623022
7.727407918 7.406444355 11.08695439 2.628077961 -14.81416332 1.639819649 6.043130715
10.69703706 11.88938537 9.97926933 -3.547644225 -14.40169178 -3.940670306 6.381021259
3.172442733 5.178485966 8.354553209 -1.279585572 -4.358607005 4.86496856 2.539234839

0.205809309 2.409887155 22.35822397 24.06579844 63.75562328 1.534783314 1.181286401

3.783652259 1.828716884 3.986448706 3.346512731 -2.462277722 3.542683214 1.337066989

2.050876074 3.460989006 3.772842505 2.170324787 -3.666884007 1.342739444 1.551189245

0.64787872 0.366271632 0.840994078 0.469855995 42.54521374 2.289307496 1.701970637

0.766784431 1.553053256 2.492001318 0.199272801 -2.978104267 1.898691176 -1.826852351

6.750960834 8.452887748 10.79957705 5.629779025 -5.422542313 5.041716665 2.819099518
4.003007364 5.655999211 6.941645669 3.300130299 -7.797276576 1.237755909 0.649366928
3.723001788 4.174123186 3.768992408 1.11768686 -3.573751449 0.014063878 -0.998764958
2012 2013 2014 2015 2016 2017 2018
0.680444374 0.025504101 0.661274653 1.142980101 2.039574983 2.55088076 2.729083099
0.234778701 0.200661828 1.254676984 1.739580448 1.452552224 1.734389656 1.437834676

5.654770564 5.818192747 1.844375489 0.762433536 1.346070132 0.771525414 1.380437414

-2.878099556 -5.799304664 -1.311465423 1.96230401 4.812187624 4.468879044 3.875984867

0.491992829 0.489584482 2.178066561 1.738967619 2.242235099 2.15710947 1.425303467
-0.858105212 -0.24750993 1.401978659 2.114215347 1.930350418 2.414248317 1.894936628
4.307258988 1.936543444 2.888563845 1.90028659 3.489097111 4.856686856 3.865753581
-1.42618936 -0.758036295 -0.631728091 0.50066201 2.77192552 2.65252953 2.329179201
0.313134744 0.576326679 0.956183042 1.112912342 1.095464394 2.260202722 1.724880628
-7.300493935 -3.241425025 0.739777123 -0.437833918 -0.190952277 1.505099308 1.934370821
0.182644559 1.336920542 8.80052941 25.11725091 4.987582437 7.221788744 6.653618494
-2.819013779 -1.728160802 0.113673238 0.923992488 1.118900618 1.68418261 0.858260216
3.82695401 3.49858087 3.537585824 2.020627995 2.353181307 4.139948473 3.493688808
4.034628375 2.429851208 1.858243652 2.971703832 2.064381296 4.636479621 4.769716682
-0.35251936 3.654370385 4.296786425 3.915962767 2.411430786 1.54566061 2.602673946

15.82945054 0.000798941 0.449813786 0.084017617 1.475433061 4.328248201 1.047410799

2.682970416 4.540005063 8.532470045 10.66106138 5.704630128 6.705510407 6.552731679

-1.030353997 -0.130175239 1.423395401 1.959169699 2.191713725 2.868832199 2.673367276

15.10207795 8.915959818 2.051740571 0.803919378 0.44099094 0.000170224 0.033276303

-4.028256748 -1.130155823 0.893187725 1.822065644 1.925736297 2.795024248 2.144610499

1.657148687 1.490646438 2.750335017 4.174873197 3.125410105 3.188341055 4.109049583
-2.669582052 -1.132054981 2.950565154 2.304895835 3.068087059 4.880537506 4.487220551
-2.927750507 -1.705705 1.379997238 3.644680152 3.17258966 2.979182401 2.581746534
INDICATOR_CODE INDICATOR_NAME
NY.GDP.MKTP.KD.ZG GDP growth (annual %)
SOURCE_NOTE
Annual percentage growth rate of GDP at market prices based on constant local currency. Aggregates are based on consta
SOURCE_ORGANIZATION
World Bank national accounts data, and OECD National Accounts data files.