Danish Economy (Math Problem Sample)

Danish Economy
Question 1
Fig 1 showed R2 is equal to 0.751. This means that there is a very strong relationship between the gross domestic product and the number of employed persons.
Fig 1
Question 2
About the development of the Danish economy from 2012-2022, from Fig 2 we predict imports. Fig 2 showed an equation as follows:-
y = 1.89 + 0.000989x.
Using the above equation, we can now predict the imports for the years 2022 and 2023 as follows:-
1. the Year 2022*
y = 1.89 + 0.000989x
3.153 = 1.89 + 0.000989x
0.000989x = 3.153 - 1.89
0.000989x = 1.263
x = 1.263/0.000989
x = 1277.0
≈1277,0
2. the Year 2023*
y = 1.89 + 0.000989x
3.146 = 1.89 + 0.000989x
0.000989x = 3.146 - 1.89
0.000989x = 1.256
x = 1.256/0.000989
x = 1269.9
≈1269,0
Fig 2
Fig 3 showed an equation as follows:-
y = 1.78 + 0.000975x.
Using the above equation, we can now predict the exports for the years 2022 and 2023 as follows:-
1. the Year 2022*
y = 1.78 + 0.000975x
3.153 = 1.78 + 0.000975x
0.000975x = 3.153 - 1.78
0.000975x = 1.373
x = 1.373 /0.000975
x = 1408.2
≈1408,2
2. the Year 2023*
y = 1.78 + 0.000975x
3.146 = 1.78 + 0.000975x
0.000975x = 3.146 - 1.78
0.000975x = 1.366
x = 1.366 /0.000975
x = 1401.0
≈1401,0
Fig 3
Introduction
A boom or a bust means an event that rapidly shifts from a time of high affluence or rapid economic growth to one of economic downfall. A period of heightened commercial activity within a company, market, industry, or economy as a whole is referred to as a boom. A bust is a period when economic growth abruptly slows down.
Conclusion
The Danish economy is at its boom since there is a very strong positive relationship between the person’s dependent and both imports and exports. This is because, from Fig 2 and Fig 3, R2 are 0.994 and 0.985 respectively. R2 close to 1 indicates a strong positive relationship between the variables given (Onyutha, 2022).
From the material in Annex A2, Figure 1 showed real earnings denoted (nominal) earnings adjusted for inf