STA510: Private Gross Fixed Capital Formation - Statistics Assessment Answer

Statistics Assessment Task

1. Download data (in excel format) for PRIVATE GROSS FIXED CAPITAL FORMATION - MACHINERY AND EQUIPMENT (GFCF) and GROSS DOMESTIC PRODUCT (GDP) for the period March 1986 to December 2018 from the above website to carry out Tasks 2-6. Display a screenshot of first 10 rows of the dataset. 

2. Using appropriate graphical descriptive techniques (in Excel):

(a) describe the movements of two data series GFCF and GDP.

(b) analyse the relationship between the two variables, GFCF and GDP. 

3. Using appropriate numerical descriptive methods (in Excel):

(a) summarize the above two data series, GFCF and GDP.

(b) comment on the strength and the direction of the relationship between GFCF and GDP. (cont.)

. Using the Simple Linear Regression technique,

(a) develop a model to explain the relationship between GFCF and GDP. Explain the reason for your choice of the dependent and independent variables of your model.

(b) estimate the model you proposed in 4(a) using Excel.

(c) interpret the estimated coefficients you obtained in 4(b). 

5. Applying appropriate statistical techniques,

(a) test whether the linear relationship between Gross Fixed Capital Formation - Machinery and Equipment and Gross Domestic Product you estimated in Q4 is significant. (b) assess the fitness of the estimated model you have estimated in Q4.

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

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