STA510 Business Statistics Assignment Solutions

Computer Applications Assignment Problem

Assume that you are a research analyst in a business firm. Your team leader has given you a research task to investigate whether economic growth affects CO₂ emissions.

For this purpose, suppose that you have collected sample data on GDP annual growth rate and CO₂ emissions (in kilo tonnes) in Australia between 1960-2018 from the World Bank Open Data (https://data.worldbank.org/). The data are stored in STA510 sheet in Assignment_Datafile.xls. Using this data set and EXCEL, and no more than 1000 words in total (including Q5) answer the following questions.

1. Using appropriate graphical descriptive techniques (in Excel):
   • describe the trend of two data series, GDP growth and CO_{2 emissions.} 
   • analyse the relationship between the two variables, GDP growth and CO_{2 emissions.} 

2. Using appropriate numerical descriptive methods (in Excel):
   • summarize the above two data series, GDP growth and CO_{2 emissions.} 
   • comment on the strength and the direction of the relationship between GDP growth and CO_{2 emissions.}

3. Using the Simple Linear Regression technique,
   • develop a model to explain the relationship between GDP growth and CO₂ Explain the reason for your choice of the dependent and independent variables of your model.
   • estimate the model you proposed in 3(a) using Excel and display the output.
   • interpret the estimated coefficients you obtained in 3(b).

4. Applying appropriate statistical techniques,
   • test whether the linear relationship between GDP growth and CO₂ emissions you estimated in Q3 is significant (use a = 0.05). (Hint: display 6 steps process in relation to this test).
   • explain whether your conclusion in 4(a) changes if the hypothesis testing was carried out at the 1% level of significance (a = 01).
   • assess the fitness of the estimated model you have estimated in Q3.

5. Based on all your answers above, write a summary report about your findings to hand over to your team leader.

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