As an econometrician, you are hired to determine the impact of corruption on income inequality. To do, you collect annual data from the World Bank and compute the following;

Corruption Index	Income equality index
149	6.5
147	5.9
129	5.5
136	5.4
157	5.6
158	5.8
144	6.7

1. State the type of dataset used to collect the data and the scale of measurement for each variable.
2. Derive the OLS estimators that you would use to estimate a model with this data.
3. Using the data set above;
4. Compute the marginal effect of corruption on income equality and autonomous income inequality.
5. State any 5 assumptions made to obtain the parameters above.
6. Compute the variance of the autonomous income inequality.
7. Compute the R-squared.
8. Construct the confidence interval for autonomous income inequality at 5% level of confidence.

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a The type of dataset that would be used for this research question is panel data ... View the full answer