1. Choose and briefly discuss one (1) multivariate economic model of your choice.2. From appropriate data websites, retrieve data ranging between 15 to 25 years, on the variables identified in the economic model of choice. 3. Use graphs and/or tables to express and represent the descriptive statistics for each variable in the economic model. 4. Express and explain, with the use of scatterplots the appropriate economic relationship for the economic model. 5. For the model, estimate the impact of each independent variable on the dependent variable by running a multiple linear regression in Microsoft Excel. Write your estimated equation in mathematical form. 6. Using Excel, calculate the standard errors of a, b and c, R-squared, degrees of freedom and the t-statistics for b(s) & c. 7. Interpret the coefficients of the multivariate economic model chosen. 8. Determine and discuss whether each independent variable is statistically significant in explaining the dependent variable.
1. Choose and briefly discuss one (1) multivariate economic model of your choice.
2. From appropriate data websites, retrieve data ranging between 15 to 25 years, on the
variables identified in the economic model of choice.
3. Use graphs and/or tables to express and represent the descriptive statistics for each
variable in the economic model.
4. Express and explain, with the use of scatterplots the appropriate economic relationship
for the economic model.
5. For the model, estimate the impact of each independent variable on the dependent
variable by running a multiple linear regression in Microsoft Excel. Write your estimated
equation in mathematical form.
6. Using Excel, calculate the standard errors of a, b and c, R-squared, degrees of freedom
and the t-statistics for b(s) & c.
7. Interpret the coefficients of the multivariate economic model chosen.
8. Determine and discuss whether each independent variable is statistically significant in
explaining the dependent variable.
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