More correlation errors students in the economics class discussed in exercise also wrote these conclusions. explain themistakes they made. a) "there was a very strong correlation of 122 between life expectancy and gdp."b) "the correlation between literacy rate and gdp was 0.83. this shows that countries wanting to increase their standardof living should invest heavily in education."exercisecorrelation errors your economics instructor assigns your class to investigate factors associated with the gross domesticproduct (gdp) of nations. each student examines a different factor (such as life expectancy, literacy rate, etc) for a fewcountries and reports to the class. apparently, some of your classmates do not understand statistics very well because youknow several of their conclusions are incorrect explain the mistakes in their statements below. a) "my very low correlation of -o.772 shows that there is almost no association between gdp and infant mortality rate."b) "there was a correlation of 0.44 between gdp and continent"