Question: Using World Development Indicators database of World Bank, download data for Ghana for year 1960 to 2019 to answer the following questions. Use the following

Using World Development Indicators database of World Bank, download data for Ghana for year 1960 to 2019 to answer the following questions.

Use the following variables; GDP (constant LCU), Gross capital formation (% of GDP), Consumer price Index

Questions

  1. Provide descriptive analysis and plot time series graph for each variable
  2. GDP is influenced by gross capital formation and consumer price index (consider data for 1970-2018).
  1. Write the null and alternative hypotheses
  2. Run the OLS regression and interpret your results (R square, F test coefficients)
  3. Conduct the diagnostics tests and interpret your results
  4. After accounting for the diagnostics, are the results different from the ones in (ii b) above? Explain

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