1. The following link gives annual data for gold prices (GOLD), the Consumer Price Index (CPI), and the Dow Jones Industrial Average (DOW) for the period 1985 to 2019: Final Group Project. An investment in a financial asset is a hedge against inflation if its rate of return, or its percentage change in price, keeps pace with the rate of inflation, the percentage change in the level of prices. To test whether gold or stock is a better hedge against inflation, estimate the following models using EVIEWS and apply the appropriate hypothesis tests. 1. PCGOLDt=b0+b1IIt+et 2. PCDOWt=a0+a1INFt+et where PCGOLDt=(GOLDtGOLDt1)/GOLDt1, PCDOWt=(DOWtDOWt1)/DOWt1, and INFt= (CPItCPIt1)/CPIt1 Note: Use the GENR command in EVIEWS to create the rate of inflation, for example, GENR INF =[CPI CPI(-1)]/ CPI(-1). Do the same to generate the percentage change in the gold and stock price. Sheet2 Sheet1 \begin{tabular}{|l|r|} \hline Row Labels & Sum of GOLD \\ \hline 1985 & 317.4245 \\ \hline 1986 & 368.198 \\ \hline 1987 & 446.8368 \\ \hline 1988 & 436.7844 \\ \hline 1989 & 381.2679 \\ \hline 1990 & 383.7326 \\ \hline 1991 & 362.3411 \\ \hline 1992 & 343.8687 \\ \hline 1993 & 360.0474 \\ \hline 1994 & 384.1593 \\ \hline 1995 & 384.0706 \\ \hline 1996 & 387.7348 \\ \hline 1997 & 330.9968 \\ \hline 1998 & 294.1223 \\ \hline 1999 & 278.8627 \\ \hline 2000 & 279.2897 \\ \hline 2001 & 271.1901 \\ \hline 2002 & 310.076 \\ \hline 2003 & 363.8316 \\ \hline 2004 & 409.5323 \\ \hline 2005 & 444.9879 \\ \hline 2006 & 604.3379 \\ \hline 2007 & 696.4312 \\ \hline 2008 & 872.3722 \\ \hline 2009 & 973.6581 \\ \hline 2010 & 1226.665 \\ \hline 2011 & 1573.16 \\ \hline 2012 & 1668.857 \\ \hline 2013 & 1409.506 \\ \hline 2014 & 1266.063 \\ \hline 2015 & 1159.821 \\ \hline 2016 & 1249.844 \\ \hline 2017 & 1257.793 \\ \hline 2018 & 1268.929 \\ \hline 2019 & 1392 \\ \hline \end{tabular} Sheet2 Sheet1