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Can Money Buy Happiness

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by

Breea Rehman

on 17 January 2014

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Transcript of Can Money Buy Happiness

Can Money Really Buy Happiness?

Does a country having a better economy (or gross domestic product) contribute to a higher happy planet index?
Past Research
There has been a ton of previous research on just the HPI (Happy Planet Index) and the GDP (Gross Domestic Product) but, just as two separate topics only.
Research Method:
Conclusions:
~there is not a huge correlation between the Gross Domestic Product and the Happy Planet Index
Gross Domestic Product (GDP):
the total value of goods and services produced by the people of a country during a year (this does not include the value of income earned in foreign countries)
Happy Planet Index (HPI):
a global measure of sustainable well-being, which utilities global data on experienced well-being, life expectancy and the ecological footprint.
By : Breea Rehman
Most of the Research is Done by the Following Institutions:
~World Bank does the research on mainly the GDP
~New Economic Foundation researches on mainly the HPI
~there has also been some research done by the United Nations regarding the correlation between the GDP, Social Support, Generosity etc.

Significance:
The past research is highly significant, because from this; mainly most recent amounts the Gross Domestic Project and the Happy Planet Index were used in this assignment to create the correlation between the two measures.
Research and Results
~used a systematic sampling technique
~selected every third country out of 151 countries , but 30 out of the 151 countries were actually chosen
Results:
Mathematically speaking, there was not a
whole lot of correlation between the Gross
Domestic Product and the Happy Planet
Index according to the chosen data
~another possible error is that there isn't an even amount of "rich" and "poor" countries
~so in short, according to the graph on the
previous slide, money can't necessarily buy happiness
(Data Management Performance Task)
Topic
How many of you have heard the phrase money can't buy happiness?
Results cont.
Regression Graph:
regression=0.31
GDP:
Mean: $17959.33
Median:$6796
Mode: n/a
SD: 23310.17
Max: $78925
Min: $0
HPI:
Mean: 46.91
Median: 52.4
Mode: n/a
SD: 6.55
Max: 64
Min: 37.2
*SD (Standard Deviation)
How is this Data Useful?
-This data is useful because organizations like the United Nations to help countries improve their HPI if it is low or their GDP and vise versa.

-NGO's can also use this information to determine how much aid an impoverished country would need

-World Leaders can also use this information to improve their country's economy and happiness levels
Full transcript