This project investigates the factors contributing to a country’s overall quality of life, using advanced statistical techniques to uncover patterns and rank nations. By analyzing data from 87 countries, the study highlights the intricate relationships between economic, health, and environmental indices.
Key Highlights:
Comprehensive Dataset: Merged datasets capturing key variables such as GDP per capita, healthcare index, cost of living, unemployment rate, and climate index for 87 countries.
Principal Component Analysis (PCA): Utilized PCA to reduce data dimensions while retaining 74.5% of the variability, allowing for clearer insights into relationships between variables.
Multidimensional Rankings: Identified two key dimensions—Economic & Health Factors and Work & Environment Factors—to rank countries based on quality of life indicators.
Key Insights:
Economically developed nations like Switzerland and Luxembourg excelled in health and economic stability.
Resource-rich nations like Kuwait and Qatar ranked highly on employment metrics despite challenging climate conditions.
Visual Interpretations
We created scatter plots, correlation matrices, and biplots to visualize relationships and clusters, providing actionable insights for policymakers and researchers.
Why It Matters:
By analyzing the multitude of factors shaping quality of life, this project offers a data-driven framework for understanding global welfare. These insights can inform policy decisions, international development strategies, and personal choices for individuals considering relocation or investment.