=+74. World Bank. The World Bank, through their Doing Business project (www.doingbusiness.org), ranks nearly 200 economies on the ease of doing business. One of their rankings measures the ease of starting a business and is made up (in part) of the following variables: number of required start-up procedures, average start-up time (in days), and average start-up cost (in % of per capita income). The following table gives the mean and standard deviations of these variables for 95 economies.

Procedures (#) Time (Days) Cost (%)

Mean 7.9 27.9 14.2 SD 2.9 19.6 12.9 Here are the data for three countries.

Procedures Time Cost Spain 10 47 15.1 Guatemala 11 26 47.3 Fiji 8 46 25.3