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Read the following information and graph and answer the questions that follow.
An international Organisation produces a Competitive Index of countries every two years based on eight factors (Institutions, Infrastructure, Macroeconomic Environment, Higher Education, Market Efficiency, Technological Readiness, Business Sophistication and Innovation). The last three indices were developed in 2010, 2012 and 2014. The scores for all eight factors of XYZ country are shown in the graph below:
If Factor performance is measured as 0.30 × Factor Score in 2014 + 0.35 × Factor Score in 2012 + 0.35 × Factor Score in 2010, then which of the following has best Factor Performance?
Factor performance is measured as 0.30 × Factor Score in 2014 + 0.35 × Factor Score in 2012 + 0.35 × Factor Score in 2010
Let's calculate Factor performance for each of the given options.
Factor performance For Innovation = 0.3*4.5+0.35*4+0.35*4.75 = 4.4125
Factor performance for Business Sophistication =0.3*5.25+0.35*4.75+0.35*4.5=4.8125
Factor performance for Infrastructure = 0.3*5.25+0.35*4+0.35*4 = 4.375
Factor performance for Macroeconomic Environment =0.3*5.5+0.35*4.5+0.35*4.75 = 4.8875
Factor performance for Macroeconomic Environment is the highest.
Hence option D is the correct answer.
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