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2 pages/β‰ˆ550 words
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APA
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Business & Marketing
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English (U.S.)
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Case Assignment: Top 20 Richest Countries in the World Based on GDP Per Capita

Essay Instructions:

The Case Assignment for this course will be a 1-2 page essay (excluding cover page and references). You should use a minimum of 3-4 sources in your Case Assignment. 
collect the data on the real incomes per capita for the first richest 20 countries in the world (you may be able to use the IMF data or World Bank website to collect the information on incomes per capita) and summarize your findings for the following questions:
1. Is the data collected qualitative or quantitative? Why? 2. What is the range of the data? Do you think the range is large? 3. Calculate the average, mode and median for the data set. Are the average and the median close in values? What does this tell us about the distribution of the data? 4. Calculate the variance and standard deviation of the data 5. How many countries have a real income per capita greater than the average income? 6. How many countries are in the 10% part of the range?
General instructions:
Must be double-spaced with 1-inch margins and typed in 12-point Times New Roman. Your Essay should have a Cover Page and a References page Essays should be proofread for spelling and grammar mistakes. You must cite all texts used, including page numbers to avoid plagiarism.

Essay Sample Content Preview:
    Case Assignment       By: [student’s name]     [University] [date]     Case Assignment             There are two ways to determine how rich a country is (World Bank, 2016). The first utilizes the GDP per capita measures national income vis-à-vis the number of individuals in the country. Through the GDP per capita, institutions can determine how rich the average resident of a country is (Pasquali, 2015), assuming that the income is equally distributed. The second measure is the Purchasing Power Parity (PPP), which looks at the living standards in a country. While most economists prefer to use PPP to determine the real effect of economic growth on the citizens of the country, institutions like World Bank use the GDP per capita because it is quantitative and the data used to compute for it is readily available through a country’s statistical offices. Unlike the PPP, the GDP per capita looks only at the exchange rates in order to compare one country from another whereas PPP looks at “relative cost of living and inflation rates” (Pasquali, 2015) by through a standard basket of goods typically purchased in the countries. Needless to say, the standard basket change from country to country and so, adds an element of subjectivity in the computation for the country’s wealth, whereas the GDP per capita is relatively straightforward – it takes the country’s total annual income and divide it by the country’s population. For this paper, data on GDP per capita will be collected from the World Bank and used to make the comparison per country. Table 1 below summarizes the GDP per capita of the top 20 richest countries in the world. To get the range for this data set, one has to deduct the lowest GDP per capita from that of the highest. Using this formula, the range is: 61,011.6 which is actually very large, considering the richest country’s GDP per capita is only 101, 450.   Table 2: Top 20 Richest Countries in the World Based on GDP Per Capita
Rank Country GDP per capita (in million USD)
1 Luxembourg 101,450
2 Switzerland 80,214.7
3 Macao SAR, China 78,585.9
4 Norway 74,734.6
5 Qatar 74,667.2
6 Australia Updated on
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