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
$$\frac{ \text {Factor Score 2014 - Factor Score 2012 }}{ \text{Factor Score 2010}}$$
then which of the following has best Factor Performance?
Factor performance in Innovation = $$\dfrac{4.5 - 4}{4.75}\times 100$$ = 10.53Â
Factor performance in Business Sophistication = $$\dfrac{5.25 - 4.75}{4.5}\times 100$$ = 11.11Â
Factor performance in Infrastructure = $$\dfrac{5.25 - 4}{4}\times 100$$ = 31.25Â
Factor performance in Macroeconomic Environment = $$\dfrac{5.5 - 4.5}{4.75}\times 100$$ = 21.05
We can see that option C is the correct answer.Â
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