Economics Assignment: LMU SMR 2016 - Econ 2300 - Project - June 23

This document presents a complete solution to an economics project from LMU SMR 2016 (Econ 2300). The assignment involves several probability calculations related to country populations and GDP, including conditional probabilities. It also involves calculating a 95% confidence interval for the mean per capita GDP based on a sample of 15 countries selected by their median per capita GDP. The solution demonstrates how to apply statistical methods to analyze economic data and draw inferences about the global economy. The project requires students to perform calculations, show their work, and interpret the results in the context of the given economic scenarios.