PLEASE ANSWER ASAP

3/7 1 QUESTION 1. Question 1: Mian and Su [2010) suggest that areas with high credit growth suffered the most during the nancial crisis in the United States. You are given the following data on 6 states and asked to compute the impact of credit growth on outputI Change in output (in billions$} Credit Growth [970] 62 120 84 5!] 173 25 45 90 22 50 86 140 (a) State the proposed regression relationship you are asked to estimate. What is Y? and What is X? {b} Compute the ordinary least squares estimates of g and 31. Interpret these coefcients. (c) Explain the sum of squared residuals (RSS) by using graph. Compute the RSS. {d} Compute Rsquared {R2} and what does it mean? (e) What is the d.f.? Compute adjusted-Rsquared (F) and what does it mean? (1') Is it possible for the R-squared to be lower than adjusted R-squared? Why or why not? (3} If credit growth in North Carolina was found to be 11%, what would your model predict the change in output to be