Use R to run a cross sectional regression on GDP per capita for the listed countries as follows Ln(GDPpc) 0 1 ln(Conspc) 2 Trade 3 HCI 4 Hightech u The variables are defined as follows GDPpc GDP per capita, PPP (current international $) Conspc Households and NPISHs final consumption expenditure per...

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Use R to run a cross sectional regression on GDP per capita for the listed countries as

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Use R to run a cross sectional regression on GDP per capita for the listed countries as follows: Ln(GDPpc) = β_0+β_1 ln(Conspc)+ β_2 Trade+β_3 HCI+β_4 Hightech+u The variables are defined as follows: GDPpc = GDP per capita, PPP (current international $) Conspc= Households and NPISHs final consumption expenditure per capita (constant 2015 US$) [NE.CON.PRVT.PC.KD] Trade=Trade (% of GDP) [NE.TRD.GNFS.ZS] HCI=Human capital index (HCI) (scale 0-1) [HD.HCI.OVRL] Hightech=Medium and high-tech manufacturing value added (% manufacturing value added) [NV.MNF.TECH.ZS.UN] You will have to take the natural log of GDPpc and Consumption per capita yourself using R! 1-1-Present your regression results in a table below (R output):

2-Interpret the constant (2.5 marks) and its p-value (1.5 marks).

3-Interpret the coefficient on household and NPISH consumption and its p-value