Question
In: Statistics and Probability
Coffee is a leading export from several developing countries. When coffee prices are high, farmers often...
Coffee is a leading export from several developing countries. When coffee prices are high, farmers often clear forest to plant more coffee trees. Here are data on prices paid to coffee growers in Indonesia and the rate of deforestation in a national park that lies in a coffee-producing region for five years: Price(cents per pound) Deforestation (percent) 29 0.49 40 1.59 54 1.69 55 1.82 72 3.10 (a) Make a scatterplot. What is the explanatory variable? What kind of pattern does your plot show? (b) Find the correlation r step-by-step. That is, find the mean and standard deviation of the two variables. Then find the five standardized values for each variable and use the formula for r.
Explain how your value for r matches your graph in (a). (c) Now enter these data into your calculator or Excel and use the correlation function to find r. Check that you get the same result as in (b). PLEASE, GIVE A DETAILED SOLUTION. THANK YOU IN ADVANCE!
Solutions
orchestra answered 1 year agoRelated Solutions
Coffee is a leading export from several developing countries. When coffee prices are high, farmers often...
Coffee is a leading export from several developing countries.
When coffee prices are high, farmers often clear forest to plant
more coffee trees. Here are data on prices paid to coffee growers
in Indonesia and the rate of deforestation in a national park that
lies in a coffee-producing region for five years: Price(cents per
pound) Deforestation (percent) 29 0.49 40 1.59 54 1.69 55 1.82 72
3.10
(a) Make a scatterplot. What is the explanatory variable? What
kind of pattern...
1. Developing countries often argue that their a. export prices and revenues are very stable. b....
1. Developing countries often argue that their
a.
export prices and revenues are very stable.
b.
efforts to industrialize are discouraged.
c.
efforts to industrialize are encouraged.
d.
terms of trade have improved over time.
2. Economists note that instability of the prices of primary
products (tin, coffee, copper) is mainly caused by
a.
low price elasticity of demand and low price elasticity of
supply.
b.
high price elasticity of demand and high price elasticity of
supply.
c.
low price...
Farmers in developing countries are vulnerable to shocks from climate change and in most cases have...
Farmers in developing countries are vulnerable to shocks from
climate change and in most cases have no access to agricultural
insurance. One potential insurance product, weather index
insurance, could reduce some of the problems associated with
traditional multiperil insurance products.
Outline the process by which a weather index insurance product
could be defined for a farmer in a developing country. In your
answer also explain why an index insurance product might be more
suitable for a developing country than a...
Briefly identify the reasons why developing countries so often use a technology with an excessively high...
Briefly identify the reasons why developing countries so often
use a technology with an excessively high capital labor ratio.
why developing countries have high rates of inflation?
why
developing countries have high rates of inflation?
Economists often refer to the slow down in population growth that started (in developing countries) as...
Economists often refer to the slow down in population growth
that started (in developing countries) as the “demographic
transition.” What are the key causes of the demographic transition?
What policies should a developing country follow to reduce
population growth?
Explain why GDP is often discarded as a measure of the actual well-being of developing countries....
Explain why GDP is often discarded as a measure of the actual
well-being of developing countries. What are the strengths and
shortcomings of alternative measures such as the HDI? Is the HDI
really “a new paradigm or reinvention of the wheel”?
Suppose that caviar is a leading export from Sweden - Swedish firms sell it all over...
Suppose that caviar is a leading export from Sweden - Swedish
firms sell it all over the world. The country finds that caviar has
decreased in price on the world market due to an increase in
production from Russia. Firms in Sweden find that they cannot sell
as much caviar as usual. The Swedish also produce something called
cloudberries that are only eaten in Sweden - no one else in world
eats them. Due to news reports linking eating cloudberries...
How differences in relaive prices befor internaional trade determines which products countries will export after international...
How differences in relaive prices befor internaional trade
determines which products countries will export after international
trade is opened up?
Why is the GDP per capita predicted by the Solow model for several developing countries higher...
Why is the GDP per capita predicted by the Solow model for
several developing countries higher than the actual GDP per capita
that we observe from the data?
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