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.
- Using appropriate graphical descriptive techniques (in Excel):
- describe the trend of two data series, GDP growth and CO2 emissions.
- analyse the relationship between the two variables, GDP growth and CO2 emissions.
- Using appropriate numerical descriptive methods (in Excel):
- summarize the above two data series, GDP growth and CO2 emissions.
- comment on the strength and the direction of the relationship between GDP growth and CO2 emissions.
- 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).
- 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.
- Based on all your answers above, write a summary report about your findings to hand over to your team leader.
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