C1. A government of a developing country is interested in assessing and comparing improvements in human development in a

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C1 A Government Of A Developing Country Is Interested In Assessing And Comparing Improvements In Human Development In A 1 (87.14 KiB) Viewed 38 times

C1. A government of a developing country is interested in assessing and comparing improvements in human development in a society in 2000, 2010 and 2020 based on three dimensions. The society consists of five people and their joint distributions of achievements in three dimensions in three years are provided in the following table. For your convenience, the achievements have been normalised between zero and one. Joint distribution in Joint distribution in Joint distribution in 2000 2010 2020 Person Dim. 1 Dim. 2 Dim. 3 Dim. 1 Dim. 2 Dim. 3 Dim. 1 Dim. 2 Dim. 3 Person 1 0.4 0.3 0.6 0.6 0.4 0.6 0.6 0.5 0.7 Person 2 0.8 0.5 0.5 0.7 0.4 0.6 0.6 Person 3 0.6 0.4 0.8 0.7 0.4 0.8 0.4 0.3 0.5 Person 4 0.5 0.6 0.7 0.7 0.4 0.7 0.7 0.6 0.8 Person 5 0.7 0.7 0.9 0.8 0.4 0.8 0.8 0.7 0.9 Dim. 1, Dim. 2 and Dim. 3 refer to dimensions 1, 2 and 3, respectively. 0.5 0.4 Being an economic advisor to the government, elaborate and justify in detail how you would compare these three distributions using various measurement tools for assessing human development. Please report your calculations up to three decimal figures.