Individual Project: BUS 250/ECON 265

Issue Date: September 26th, 2021

Submission Date: October 21st,2021
 1. Select an economic or social topic for your project. Introduce the topic, explain the
importance, significant and relevance of the topic to countries. ( Marks 2)

The topic which I have selected for the following framework is GDP and its impacts upon the
educational and labor educational elements.

Education play one of the state of the art role in the development of the state. It is a common
fact that the countries where the educational growth is more they are more established as
compare to the countries where the educational trend is less.

Here we have collected the data set of GDP rate of different countries and its impact upon the
establishment and reliance of the states. This data set is based upon the three main variables listed
below:

1- Education and GDP rate trend

2- Labor force and GDP rate trend
3- Natural gas trend

These are the three main parameters on which the trend of GDP in the different countries are mainly
determined. Moreover it is also used in order to determine the inflation rate of the country.

2. Identify one variable as dependent and three variables as independent and establish the
relationship among them with the help of the literature ( Marks 1)

Independent and Dependent Variables

The independent and as well as dependent variables of the following data set are listed below:

Independent variable

The independent variable of the following data set are listed below:

- GDP rate

Dependent variable

The dependent variable of the following data set are listed below:

- Educational content
- Labor force
- Natural Gas
 3. Review the existing literature using www.masader.om and download the relevant articles and
studies for review. ( Marks 2)

Importance of GDP

The gross domestic product is about the product which are counted regardless of their
subsequent use. This process can also be particular to use for the consumption and investment
that is placed for the assessed. Gross domestic product basically indicate about the inclusion of
the criteria with respect to the graphical goods and services and counted upon the product
within the country borders. Regardless of the nationality they are providing the growth rates
too. The production of German on factory in United States has been counted as the part of GDP
for US. It basically not include the unpaid work which has been performed within the family,
non-monetary compensation of the work, the goods which are not produced for the sale in the
marketplace, all type of individual activities and transfer of the payment which are used for the
illegal curriculum.

Q4.

Labour force
Oman valued added, Educational with basic
Time gross for GDP attainment,] education Graduate student
2001 1.625034 11.07161 64.72 21454
2002 4.102727 21.3123 46.92 19063
2003 4.662774 43.3123 48.94 23830
2004 1.876171 3.816442 42.51 28227
2005 2.360576 8.028811 67.61 28419
2006 6.541511 3.816442 65.76 27651
2007 3.273747 8.028811 38.86 23816
2008 2.976455 2.431232 38 21454
2009 7.233808 43.21312 36.27 19063
2010 7.061544 32.1312 21.77 21555
2011 2.50658 11.20875 64.49 19323
2012 3.604688 57.81 47.34 24322
2013 3.439222 61.66 48.62 24324
2013 -0.13658 41.21 41.99 23123
2014 -0.27878 37.75 57.81 23123
2015 7.176145 36.51 61.66 23123
2016 -0.33517 21.18 41.21 24213
2017 0.959879 63.58 37.75 13213
 2018 9.307467 48.28 36.51 23123

5.For any two variables construct a histogram, frequency polygon, Pareto, and ogive (cumulative
percentage) for the distribution. ( Marks 1)

GDP growth (annual %)

Frequen Cumulati
Bin cy ve %
-
0.3351
7 1 5.26%
2.0754
89 5 31.58%
4.4861
49 7 68.42%
6.8968
08 2 78.95%
More 4 100.00%

Histogram
8
4
Frequency

0
Frequency
7 5 5 5 e
51 92 48 77 or
3 48 61 80 M
.3 5
-0 07 48 89
6
2. 4. 6.

Bin
 pareto
8
4
Frequency

0
Frequency
5 5 e 5 7
48 92 or 77 51
61 5 48 M
6 80 .3
3
48 07 89 -0
4. 2. 6.

Bin

ogive
120.00%
80.00%
40.00%
Frequency

0.00%
Cumulative %
5 5 e 5 7
48 92 or 77 51
61 5 48 M
68
0
.3
3
48 07 89 -0
4. 2. 6 .

Bin

Frequency
8

0
-0.33517 2.07548925 4.4861485 6.89680775 More

Educational attainment,]
 Frequen Cumulati
Bin cy ve %
2.4312
32 1 5.26%
17.718
42 6 36.84%
33.005
62 3 52.63%
48.292
81 6 84.21%
More 3 100.00%

Histogram
6
4
2
Frequency

0 Frequency
32 24 16 08 e
or
12 84 56 28 M
43 71 00 29
2. 1 7. 3 3. 4 8.

Bin

Pareto
6
4
2
Frequency

0 Frequency
4 8 6 e 2
42 80 61 or 23
1 8 9 2 0 5 M 1
.7 .2 .0 43
17 48 33 2.

Bin
 Frequency
7

0
2.431232 17.718424 33.005616 48.292808 More

Using “Descriptive Statistics” determine the mean, mode, median for the selected two variables. What
does this say about the symmetry of the distribution? Check for any outlier.( Marks 1)

Oman
value
d Labour
adde force
d, Education with
gross al basic Gradua
for attainmen educati te
GDP   t,]   on   student  
               
3.5767 29.281 47.828 22758.
Mean 26 Mean 63 Mean 42 Mean 89
Media 3.2737 32.131
n 47 Median 2 Median 46.92 Median 23123
3.8164
Mode #N/A Mode 42 Mode #N/A Mode 23123

  Educationa  
l
attainment
 ,]
9.550210
q1 1.7506025
5
q3 5.6021425 43.26271
iqr 3.85154 33.7125
-
Q1-1.5*IQR -4.026708
41.01854
93.83145
Q3+1.5*IQR 11.379453
9
no
no outlier outliers

5.Compare variance, standard deviation,and coefficient of variation of each variable. Explain

difference.( Marks 1)

Labour
Oman force
valued Education with
added, al basic Graduat
gross for attainmen educatio e
GDP   t,]   n   student  
               
3.57672 29.2816 47.8284 22758.8
Mean 6 Mean 3 Mean 2 Mean 9
Standard Standard Standard
Deviatio 2.81032 Standard 20.7812 Deviatio 12.6824 Deviatio 3580.62
n 8 Deviation 7 n 1 n 4
Sample 7.89794 Sample Sample 160.843 Sample 128208
Variance 2 Variance 431.861 Variance 5 Variance 66

coefficie coefficie coefficie

nt if 1.27270 coefficient nt if 3.77124 nt if 6.35612
variation 8 if variation 1.40904 variation 1 variation 6

Calculate the correlation matrix for all variables and interpret the results. ( Marks 1)

  Oman Education Labour Gradua

valued al force te
 added, with
gross basic
for attainme educati studen
GDP nt,] on t
Oman
valued
added,
gross for
GDP 1      
Education
al
attainmen 0.1324
t,] 62 1    
Labour
force with
basic
education -0.181 -0.31383 1  
Graduate 0.0346 0.32148
student 59 -0.39053 9 1

Apply the multiple regressionfor the complete model and report the results. Check the significance of
the regression coefficients and comment on the overall results. ( Marks 3)

SUMMARY OUTPUT

Regression Statistics
Multiple R 0.237045
R Square 0.05619
Adjusted R
Square -0.13257
Standard Error 2.990817
Observations 19

ANOVA
Significan
  df SS MS F ce F
7.9881 2.6627 0.2976
Regression 3 98 33 79 0.826523
134.17 8.9449
Residual 15 48 84    
142.16
Total 18 3      
 Coefficie Standa Lower Upper Lower Upper
  nts rd Error t Stat P-value 95% 95% 95.0% 95.0%
-
5.7734 0.4217 0.6792 14.740 9.8711 14.740
Intercept 2.434787 94 18 12 -9.87112 7 2 7
-
Educational 0.0377 0.4685 0.6461 0.0981 0.0627 0.0981
attainment,] 0.017684 39 87 02 -0.06275 22 5 22
Labour force - -
with basic 0.0601 0.6886 0.5015 0.0867 0.1695 0.0867
education -0.0414 19 3 66 -0.16954 41 4 41
-
Graduate 0.0002 0.5210 0.6099 0.0005 0.0003 0.0005
student 0.000114 2 16 62 -0.00035 83 5 83

RESIDUAL OUTPUT

Predicted
Oman
valued Standa
added, rd
gross for Residu Residu
Observation GDP als als
- -
0.7810 0.2860
1 2.40607 4 7
1.0522
2 3.050495 32 0.3854
0.7613 0.2788
3 3.901387 87 73
- -
2.0961 0.7677
4 3.972285 1 4
- -
0.6690 0.2450
5 3.029599 2 4
3.5976 1.3177
6 2.943818 93 25
7 3.693149 -0.4194 -
0.1536
 1
- -
0.3830 0.1402
8 3.359489 3 9
3.3551 1.2288
9 3.878701 07 74
2.4933 0.9132
10 4.568186 58 41
0.3324 0.1217
11 2.174173 07 51
- -
0.6756 0.2474
12 4.280303 1 6
-
0.3136
13 4.295622 -0.8564 7
- -
4.2076 1.5411
14 4.071043 2 2
- -
3.6336 1.3309
15 3.354904 8 1
4.0025 1.4660
16 3.173584 61 16
- -
4.2090 1.5416
17 3.873851 2 4
- -
2.5483 0.9333
18 3.508197 2 7
4.8845 1.7890
19 4.422942 25 53

Conclusion

To sum up the whole discussion in the following project we have implemented the statistical analysis
upon different variables in order to understand the key relationship among them. These statistical tools
are implemented in such a way that they are defining about the key corresponding growth of products
among the different states correspondingly.
References
How to Calculate the GDP of a Country. (2021). Retrieved from nvestopedia.com/:
https://www.investopedia.com/articles/investing/051415/how-calculate-gdp-country.asp

What is GDP? (2020). Retrieved from .worldometers.info: https://www.worldometers.info/gdp/what-is-

gdp/#:~:text=GDP%20stands%20for%20%22Gross%20Domestic,time%20(typically
%201%20year).&text=GDP%20is%20the%20most%20commonly%20used%20measure%20of
%20economic%20activity.