Question: Please make a Methodology of simple linear regression model and outline the testable equations, define the variables and their measures and provide theoretical justification of

Please make a Methodology of simple linear regression model and outline the testable equations, define the variables and their measures and provide theoretical justification of the chosen variables and qualitative analyze from the data below.

Year Unemployment rate (%) Real GDP(%)
2012 4.420000076 1.411314382
2013 4.327000141 4.73421949
2014 4.289999962 5.603514406
2015 4.295000076 4.50120041
2016 4.320000172 2.445651797
2017 4.277999878 5.35336456
2018 4.333000183 3.812351222
2019 4.447999954 -0.445563314
2020 4.715000153 -15.15081665
2021 5.238999844 -4.081424941

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!