Question: Note: According to the economic theory, all the provided variables in below table have relationship with gross domestic production (GDP). To answer the following questions,

Note: According to the economic theory, all the provided variables in below table have relationship with gross domestic production (GDP). To answer the following questions, you should start to select a country and variables from this link (http://databank.worldbank.org/data/reports.aspx?source=2&country#).

QUESTION 1.

Please select two variables (one dependent and one independent variable) between 2010-2018.

A) What are the descriptive statistics of selected variables such as mean, median, standard deviation, sample variance, and range.

B) Plot each variable over the time and shows the trendline with equation.

C) Run the simple regression and shows the liner equation between variables. What is the intercept and slope? Which one is statistically significant?

QUESTION 2.

Please select four variables (one dependent and three independent variable) between 2010-2018.

A) What are the descriptive statistics of selected variables such as mean, median, standard deviation, sample Variance, and range.

B) Plot each variable over the time and shows the trendline with equation.

C) Write the mathematical and econometric models.

D) Run the multiple regression and shows the linear equations between variables. What is intercept and coefficients? Which one is statistically significant.

QUESTION 3.

What is the R square (R²) of estimated econometric model in Question 2? Does your model explain the variation of GDP per capita? Please select another three independent variables and re-run the multiple regression analysis. Please compare the new R square (R²) and explain why is different.

Depended Variable

Independent Variable

GDP per capita growth

(annual %)

Domestic credit provided by financial sector

(% of GDP)

Gross capital formation

(% of GDP)

Imports of goods and services

(% of GDP)

Tax revenue

(% of GDP)

Consumer price index

(2010 = 100)

Exports of goods and services

(% of GDP)

Foreign direct investment, net inflows

(% of GDP)

NY.GDP.PCAP.KD.ZG

FS.AST.DOMS.GD.ZS

NE.GDI.TOTL.ZS

NE.IMP.GNFS.ZS

GC.TAX.TOTL.GD.ZS

FP.CPI.TOTL

NE.EXP.GNFS.ZS

BX.KLT.DINV.WD.GD.ZS

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