(Answered) You are a consultant on a project that looks at the

Statistics

You are a consultant on a project that looks at the difficulties of closing down a business across countries. The table below provides information for a random sample of countries. It lists the amount of time in years needed to close a business and the recovery rate on the initial investment.

(Note: The statistics are from the World Bank Doing Business Report)

(a) Using a value of R = -0.8692, calculate the R². Interpret the R² in words.

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