Calculate and interpret the Coefficient of Correlation between the following indicators:GDP (Current $US) and Goods exports (BoP, current US$) 1 Country Name Fiji2Indicator Name GDP (current $US)112328422.13 19604 1961116987784.95 19621229064356 19637 19648 19659 196610 196711 196812 196913 197014 197115 197216 197317 197418 197519 197620 197721 197822 197923 198024 198125 198226 198327 198428 198529 198630 198731 1988129454728.6140032741.5147084750150603925.5162625885.9166952937.1182182067.7219878482.2247749327.7316650509425963359.4558589870.9684268280.8694552411.7719533137.1829239489.81019743927120256735912356658091194122694112310727611779974141141123440129022861711779081921109976928DFijiFijiGoods exports (BoP, Net official developmentcurrent US$)270166705.2373561368.6314722248.9286943410.2240919470.5258092426.1235272870.5275849081.9328494000.5372869703assistance received (constant10739999.779640000.343100040000.940389999.3930329999.923625000032529998.7822010000.2351630001.0769809997.5650950000.7669040000.9250259998.3278129997.2568849998.4784099998.47106489997.992040000.9287709999.0891150001.5389059997.5699800003.0588430000.3184680000.3182709999.0886650001.5394989997.8669120002.7592470001.22FijiExternal debt stocks,total (DOD, current US$)1166544014810208.620721484.64719724854507121.559299120.563899866.3120597359.1103213454.6141674748.1216321921.5276430731.2302393413.9332406077.7314560182.5335680653.4339619142.3364679007.7370909718.9FijiMilitaryexpenditure413396.8127535616.7685787703.1062931727.06941353022.082056253.7492751430.023651464.9467239265.3989572320.67810367191.7511361681.7614939154.8515102947.8315601330.1314008928.9614591259.3725131445.6624673835.53GFijiFinal consumptionexpenditure (current894127139.4974782354.3952826040.3963401179.9959728431.6945310332.9993748786.3976570463.9948710060.8 32 198933 199034 199135 199236 199337 199438 199539 199640 199741 199842 199943 200044 200145 200246 200347 200448 200549 200650 200751 200852 200953 201054 201155 201256 201357 201458 201559 201660 201761 201862 201963 202011826865771337024782138384386015324018631636074718182576326819703477212128696644209018494116531608621936484565167823921816524642011833279985230045363427080784772980484920307630545333783146003523185920287062463631401814443779378134397201257141899156674857220602468254688149302042205353404419558137184854816751734477040340377123595.5415555768.1362574823.4349769265.6370936096.4490190386.7519649206672201239.9535646873.4428927346.1537716570.4530125262.7496959366.8464124766.1651015610.4634301946.2680569041.2659151820.7722647098.9901997972.2615098781.7819747577.51071737361120513184411433271591208532271970193385.8921839857.5987051789.210036268401026264878819285988.170610000.6181319999.6971519996.6498709999.0889629997,2557450000.765775000059569999.6961150001.5354919998.1747950000.7642349998.474125000049729999.5465269996.6478339996.3477809997.5666940002.4454150001.5346389999.3966319999.6969809997.5661450000.7687389999.3980459999.0885569999.69109470001.2123989997.9148990005.5120959999.1142860000.6316399872318026329.3282093980.4257427622.5246248945.3196861157.8183417026165771501158130798.8140365632.2203848126.2194527935.4181389690.1211378367.3258131310.3263742090.4302666509.7373224464.8397932776.2689116436.710679272691107442022135550951812703436181284885601129124504512327594351297960843126771537412453876581344060627151801448929083211.4230542031.5932482582.8830539125.3432041095.6233665273.3434700248.1632851136.6130962540.1822598926.9323811699.7232039537.3532811655.8230914304.2737296898.0846798811.2843111350.2954067168.0675576918.353585658.6251285722.3250408953.7160785527.4759221516.4158108276.974787941.1342617557.65441160875276555.0181378313.5779497171.8673510781.8310635677211208124114124136554613262461741358953172145616078115808305481586973562158204613111822528691277467506124941276012102257751283231972156851988617645124062768866884291934796730340127933287996737265222723327418801543205195182340765188035603027043786928102362185354739607581044288693212451221615444755137943789452693

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Answered: Calculate and interpret the Coefficient…

Calculate and interpret the Coefficient of Correlation between the following indicators: GDP (Current $US) and Goods exports (BoP, current US$)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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