1. Using a random sample of 75 observations of the Americas Stock market data, each individual student is to perform the following task: a. Using Canada as the dependent variable, formulate the empirical model for the volatility series and explain the causal effects. b. Estimate the empirical model and interpret the coefficient estimates professionally. c. Based on the t-statistics or the p-value, explain which variables have meaningful explanatory power. d. How good is this model in explaining volatility in the Canadian market? e. Remove the variable(s) that are not statistically significant, formulate a new model, and estimate that new model. f. Explain what you observe. g. Comparing (b) with (e), which estimated model is superior? Please help me how to do in excel and give detailed answer of the question

4.76

0.90

1.74

0.96

2.38

1.28

2.86

1.87

2.19

1.38

0.21

3.55

2.44

1.94

2.50

2.92

4.94

2.14

3.89

6.91

3.41

1.16

1.60

4.09

2.69

2.41

2.25

2.48

3.79

3.33

2.61

2.40

3.92

3.42

0.80

5.79

3.58

1.58

1.14

1.04

4.88

4.31

2.23

1.38

1.62

1.38

6.20

4.17

4.08

0.08

3.82

1.17

3.26

2.44

4.16

2.63

4.94

1.84

4.71

6.46

2.79

4.09

4.76

3.05

0.87

3.12

1.34

1.93

1.64

4.39

5.76

4.40

6.22

1.10

4.12