A recent study by the World Bank wished to determine whether there was a relationship between the abundance of natural resources in a country and its long term rate of economic growth. Their study used 40 (n) countries over a long period to 1995. Letting Y be the rate of growth measured as a percentage and X be a measure of natural resource abundance, the following relationship between the two variables was estimated. Standard errors of b
A recent study by the World Bank wished to determine whether there was a relationship between the abundance of natural resources in a country and its…
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