Economics and Quantitative Analysis: GDP vs. Life Satisfaction Report

This report investigates the statistical association between average life satisfaction and GDP per capita across 36 countries, utilizing various statistical tools such as descriptive statistics, linear regression, and correlation coefficients. The analysis includes a scatter diagram to visually represent the data and a regression equation to quantify the relationship. The findings reveal a moderate positive association between the two variables, with the regression model explaining 32% of the variance. Excluding Luxembourg, identified as an outlier, improves the model fit, increasing R-squared to 52%. The report discusses the results in the context of previous research, including the Easterlin Paradox, and concludes with recommendations for economic policymakers, emphasizing the importance of job creation and investments in infrastructure, education, and productivity to enhance both GDP and life satisfaction. The report also analyzes the impact of GDP on life satisfaction and provides statistical evidence to support its findings.