Howard Gross Domestic Product & CPI Calculations Questions & Excel Analysis

User Generated

xron

Mathematics

Howard College

Description

  • Draw the scatterplot using the data above and add the fitting line and the linear equation.
  • Find the correlation coefficient. Is it significant?
  • Provide the descriptive statistics table
  • Provide the inferential statistics table where your dependent variable is Consumer Price Index (CPI) and your independent variable is Gross Domestic Product (GDP)
  • Does the GDP have an impact on CPI? define your Null Hypothesis (Ho) and write your conclusion

Unformatted Attachment Preview

1.) Use the table describing the USA Gross Domestic Product (GDP) and Consumer Price Index (CPI) below to calculate the following. Use Excel Data Analytics. Year 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 GDP 13493.06 13879.13 14406.38 14912.51 15338.26 15626.03 15604.69 15208.83 15598.75 15840.67 16197.01 16495.37 16912.04 17403.84 17688.89 18108.08 18638.17 CPI 82.49047 84.36308 86.62168 89.56053 92.44971 95.08699 98.73748 98.38642 100 103.1568 105.2915 106.8338 108.5669 108.6957 110.067 112.4116 115.1573 Variables Mean Median Variance Std Deviation Covariance Correlation R square x y 2.) 3.) 4.) 5.) Draw the scatterplot using the data above and add the fitting line and the linear equation. Find the correlation coefficient. Is it significant? Provide the descriptive statistics table Provide the inferential statistics table where your dependent variable is Consumer Price Index (CPI) and your independent variable is Gross Domestic Product (GDP) 6.) Does the GDP have an impact on CPI? define your Null Hypothesis (Ho) and write your conclusion SSE
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Explanation & Answer

Please find attached both the word and excel file. Much of the work is in the excel file. The word document has answered the questions.

Data Analysis
Scatterplot

Scatterplot
140
120

y = 0.0068x - 7.9219

CPI

100
80...


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