Olympics Medals are related to what

Olympics Medals are related to what?

 

Previously some Economists have suggested the number of Olympics Medals is related to the GDP of a country and they can predict it with the related data. But with a short analysis on the 2008 Olympics medals up to day 9 (17^th August 2008), it seems that the data does not support this claim.

 

        I don't choose GDP per Capita because it has less co-relation to the matter under study.

But the GDP only seems to meet the assumption only if we choose the first four top countries with most Gold Medals, but it would violate it strongly when we find the Second Most GDP country – Japan is not on the Eighth. In contrast to this, Australia and Korea which have less GDP have a higher rank than Japan.

When we extend our scope to Rank 13^th (Spain), then we will find a very confusing picture. Ukraine is on top of France, and Romania is higher than Spain. All these two are less than 10% of GDP of France or Spain.

Thus we can assume that the GDP is not related directly to Olympics Gold Medals or the number of Total medals scored.