Descriptive statistics from the data, Macroeconomics

Assignment Help:

Table below shows the descriptive statistics which have been condensed from the data sheet for the period 1987 Q4 to 2011 Q3.

 

GDP (%)

Real Exchange Rate (Base: Jan 2005=100)

Oil price ($/barrel)

Inflation (%)

Unemployment rate (%)

Interest rate (%)

Mean

0.49

93.787

37.409

3.571

6.914

6.115

St. Dev.

0.64

8.064

28.809

2.138

1.705

3.604

Min

-2.2

77.746

11.187

-1.367

4.6

0.5

Max

1.7

104.644

121.397

10.43

10.4

14.79

Table- A table showing the descriptive statistics from the data.

Numerous interesting facts can be observed in the table above. Firstly, the range of oil price over a 24 year period is staggering, highlighting the volatile nature of the commodity. The mean of the oil price is $37.41 per barrel. This is a stark contrast to recent prices of around $120 per barrel (Bloomberg, 2012). The standard deviation for oil is surprising also. It shows that the majority of the oil prices throughout the sample period have been within $29of the mean figure of $37.41 per barrel. This once again emphasises just how high the current price of oil is. Another figure which offers a stark contrast to the current UK economic performance is the interest rate mean. At 6.115 the rate is 5.615 higher than the current level 0.5% (Bank of England, 2012). This illustrates how low the demand for money in the UK is at present. The mean GDP figure shows that across the 24 year period, the UK achieved a mean growth rate of 1.98% annually. This figure will make pleasant reading to the policymakers throughout this period as the target rate of growth for the UK is 2%.


Related Discussions:- Descriptive statistics from the data

Probabilities, Compute the following probabilities a) If Y is distribute...

Compute the following probabilities a) If Y is distributed N(1,4) find Pr(y ? 3) b) If Y is distributed N(3,9) find pr(y>0) c) If Y is distributed N (50,25) find pr(40?Y?5

Give an example also diminishing returns to an input, Explain the productio...

Explain the production function and discuss why it is important? Explain diminishing returns to an input and give an example? Discuss why a firm's cost curve might be different in

Define gross requirements and scheduled receipts, One unit of A is made up ...

One unit of A is made up of one unit of B and one unit of C. B is made of three units of D and one unit if F. C is composed of three units of B, one unit of D, and four units of E.

Explain different levels of a hypothetic, Suppose that a public park is vis...

Suppose that a public park is visited by people living in five concentric zones around the park. Each zone has a population of 5000, and the total travel cost for a visit to the pa

Determine the concept of money supply, Assume that the required reserve rat...

Assume that the required reserve ratio is 0.12 for deposits & there are no excess reserves. Assume that the total demand for currency is equal to 0.3 times deposits. a) If t

Relative cost-effectiveness, Stephanie Robbins is the Three Hills Power Com...

Stephanie Robbins is the Three Hills Power Company management analyst assigned to simulate maintenance costs. In Section 14.6 we describe the simulation of 15 generator breakdowns

Determine velocity approach to money demand, Determine Velocity Approach to...

Determine Velocity Approach to Money Demand. The Velocity Approach to Money Demand: The velocity of money: V = (P × Y)/ M The real quantity of money demanded is pr

MONOPOLY, WHAT ARE THE SOURCES OF MONOPOLY

WHAT ARE THE SOURCES OF MONOPOLY

Static and dynamic multipliertitle.., suppose c=a+by and investmentI is giv...

suppose c=a+by and investmentI is given.assuming mpc=.80 and I=50,find static and dynamic moel question #Minimum 100 words accepted#

Var model, The estimated statistics from the VAR model are not able to be i...

The estimated statistics from the VAR model are not able to be interpreted to solve the problem of this coursework due to reasons that are discussed in the next subchapter. Therefo

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd