Question: PART II. PARAMETRIC STATISTICS Regression Models: Use UN Data 2018 Specification 1: GDP =f [Tax rate, Life Expectancy, Years of Schooling, Unemployment, Net Saving]) Specification

 PART II. PARAMETRIC STATISTICS Regression Models: Use UN Data 2018 Specification

PART II. PARAMETRIC STATISTICS Regression Models: Use UN Data 2018 Specification 1: GDP =f [Tax rate, Life Expectancy, Years of Schooling, Unemployment, Net Saving]) Specification 2: GDP per capita = f [Tax rate, Life expectancy, Years of schooling, Unemployment, Net saving] Specification 3: HDI = [Tax rate, Life expectancy, Years of schooling, Unemployment, Net saving), Where GDP=Gross Domestic Product; HDI=Human Development Index Specification 1: Specification 2: Dependent Specification 3: Dependent Variable=GDP Variable=GDP per capita Dependent Variable=HDI Independent Regression Level of Regression Level of Regression Level of Variables Coefficient Significance Coefficient Significance Coefficient Significance Intercept Tax rate Life expectancy Years of schooling Unemployment Net savings F-Value Adjusted R- Interpretation within Context of UNSDG and Ambisyon 2040 Which of the 3 specifications have the best fit, in terms of R and F-value? Explain your

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