Economic development based on GDP The previous problem discusses GDP, which is a commonly used measure of the overall economic activity of a nation. For this group of nations, the GDP data have a mean of 1909 and a standard deviation of 3136 (in billions of U.S. dollars).

a. The five-number summary of GDP is minimum = 204, Q1 = 378, median = 780, Q3 = 2015, and maximum = 16,245. Sketch a box plot.

b. Based on these statistics and the graph in part

a, describe the shape of the distribution of GDP values.

c. The data set also contains per capita GDP, or the overall GDP divided by the nation’s population size.
Construct a scatterplot of per capita GDP and GDP and explain why no clear trend emerges.

d. Your friend, Joe, argues that the correlation between the two variables must be 1 since they are both measuring the same thing. In reality, the actual correlation between per capita GDP and GDP is only 0.32. Identify the flaw in Joe’s reasoning.