Data: Part I Click on Data sheet at the bottome of this screen to access data fi
ID: 3056599 • Letter: D
Question
Data:
Part I Click on Data sheet at the bottome of this screen to access data file for this assignment Highlight the table starting from cell B4. Include the column title cells at top of each column. Click on Insert in the menu bar. Click on Scatter diagram. It opens a drop down choices, choose the very first choice (top-left choice) under the XY graphs. Stretch the graph to occupy from cell F4 to N 29 Click on "+" at top right corner of the chart. From dropdown, check 'Axes', 'Axes Titles', 'Chart Title' Click on Horizontal Axis title and edit to read 'Nominal Gross Domestic Product $billion' Click on Vertical Axis title and edit to read 'Personal Consumption Expenditure $billion' Click on chart title at top and edit to read 'Consumption Function' Write comments at bottom of graph such as C = a + b Y and explain what 'a' and 'b' stand for. Add your observations about the graph such as relation between Consumption spending and income growth Save your file and use your first-last names for the file name. Part II Regress Consumption against the GDP from the data sheet. Include the Excel ANOVA table.Although irrelevant run a "F" test as well as individual coefficient test . Write a short paragraph discussing the results. For example, how this information can be used to forecast future consumption or any other interesting conclusions you can draw Material in your textbook as well as outside reading can be very helpful Part III Highlight Year, GDP and Consumption expenditure data including labels. Select Insert, and from Charts option, select line chart. On horizonatal axis, you should see, Years, plus GDP and Consumption expenditure trend lines AS you can see, GDP and Consumption lines lie practically on top of each other from 1929 through early 1960s before diverging. Write a short paragraph explaining why GDP (a measure of output) exceeded Consumption starting 1960s. What happened to the economy in early 60's that brought about divergence of output and consumption?Explanation / Answer
We have to plug given data in Excel.
Select all data .
Then click on Insert --- > Select Scatter plot -----> Click on 1st plot scatter plot with mark .
It gives you scatter plot as follows :
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