The main objective of this research project is to test the hypothesis of a relationship between a country’s level of happiness and its per capita GDP. The research is of great importance because if evidence of a relationship arises, the information could be used to develop activities or strategies which could potentially increase a country’s level of happiness by increasing its per capita GDP. The main findings are that there is evidence of a statistically significant relationship between a country’s level of happiness and its per capita GDP. Even though it might be a good result, it is not completely reliable and trustworthy because of our multicollinearity, a problem that could not be solved. A constant variances assumption’s violation was found by performing a variety of different tests. It was solved using robust standard deviations and it proved to add more statistical significance to one of the explanatory variables (Human Rights).
Dr. Sam Schreyer
Economics, Finance, & Accounting
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"Is there a relationship between a country's level of happiness and its per capita GDP?,"
SACAD: John Heinrichs Scholarly and Creative Activity Days: Vol. 2022, Article 27.
Available at: https://scholars.fhsu.edu/sacad/vol2022/iss2022/27