Regression Analysis Using R

In this assignment, we use R to perform regression analysis. Please use the below Economic/political dataset (Excel) Economic/political dataset (Excel)to complete the assignment.

1. Build a linear model of regression that demonstrates if Consumer Confidence influences Presidential Approval. Report the regression coefficient and intercept.

• Tip: The function used for building linear models islm(). Thelm()function takes in two main arguments: Formula and Data. The data is typically a data. frame, and the formula is an object of class formula.

2. Does Consumer Confidence influence Presidential Approval? Explain the whole process leading to this answer. Report t-value and p-value, too.

• Tip: Perform a two-tailed t-test usingqt (1-/2, df).

3. Do Unemployment and Inflation influence Consumer Confidence? Explain the whole process leading to this answer. Report F-value for the overall multivariate regression. Also report t-values and p-values for both independent variables.

• Tip: Perform an F test. The main functions to interact with the F-distribution aredf(), pf(), qf(),andrf().
• Tip: Perform a t-test for both independent variables.

Year	Unemployment	Inflation	Presidential Approval	Consumer Confidence
1948	3.8	9.5	38	0.0
1952	3.1	2.2	32	86.2
1956	3.9	0.1	67	100.2
1960	4.8	1.4	57	90.1
1964	5.4	1.4	73	99.9
1968	3.8	3.6	41	91.7
1972	5.7	3.8	56	90.7
1976	7.7	6.3	45	87.0
1980	6.3	14.2	37	76.7
1984	7.8	4.7	58	95.7
1988	5.7	3.9	53	93.0
1992	7.4	2.8	37	85.3
1996	5.5	2.7	54	99.2
2000	4.1	3.2	56	107.6
2004	5.6	1.7	47	92.8
2008	4.9	4.1	31	55.3
2012	8.3	2.9	51	82.7
2016	4.9	1.0	50	91.7