a$)$ Use file WC$1\_$daily.xlsx posted under Files$/$Data sets.

Assuming a linear relationship between the closing price on the wheat $($Close$($Wc$1))$ and the business day $(04/04/2019-$ business day $1,04/05/2019-$ business day $2,$ etc, onwards$),$ complete the regression table attached. You should be able to complete it $($light green cells$)$ manually $($without using the Data analysis Toolpack$)$ and check your work by running the Data analysis Toolpack.$*$

b$)$ Interpret the values of the found estimators of the parameters of the model.

c$)$ Find the estimator of the variance of the error terms obtained using the MLE approach under assumption of normality of error terms and Gauss$-$Markov conditions. Comment whether it is unbiased$/$positively biased$/$negatively biased. Provide an unbiased estimator of the variance of the error terms under assumption of normality of error terms and Gauss$-$Markov conditions.

d$)$ Test the hypothesis on whether the business day is significant for determining the closing price on the wheat in the model.

$*$It will be wise though to check your answers with the values provided by the Data Analysis Toolpack.

Your submission for this problem should include the following pages:

$-$data and all necessary work,

$-$formulae for the same worksheet $($use Ctrl $+$ ~ to see the formulae$),$

$-$the output from Data Analysis ToolPack,

$-$the answers $($in complete sentences$)$ for parts $($a$)-($d$).$

Date Close$($Wc$1)$

$6/10/2019496\mathrm{.}25$

$6/7/2019504\mathrm{.}5$

$6/6/2019510$

$6/5/2019490\mathrm{.}75$

$6/4/2019507\mathrm{.}25$

$6/3/2019519\mathrm{.}75$

$5/31/2019503$

$5/30/2019514\mathrm{.}5$

$5/29/2019490\mathrm{.}5$

$5/28/2019504\mathrm{.}75$

$5/24/2019489\mathrm{.}5$

$5/23/2019470\mathrm{.}25$

$5/22/2019472\mathrm{.}75$

$5/21/2019478\mathrm{.}75$

$5/20/2019478\mathrm{.}25$

$5/17/2019465$

$5/16/2019467$

$5/15/2019448\mathrm{.}75$

$5/14/2019439\mathrm{.}25$

$5/13/2019431\mathrm{.}25$

$5/10/2019419$

$5/9/2019421\mathrm{.}75$

$5/8/2019431\mathrm{.}25$

$5/7/2019430\mathrm{.}5$

$5/6/2019428$

$5/3/2019428$

$5/2/2019433\mathrm{.}25$

$5/1/2019425$

$4/30/2019418\mathrm{.}5$

$4/29/2019426\mathrm{.}75$

$4/26/2019435$

$4/25/2019434\mathrm{.}75$

$4/24/2019432\mathrm{.}25$

$4/23/2019438\mathrm{.}75$

$4/22/2019435\mathrm{.}75$

$4/18/2019444\mathrm{.}25$

$4/17/2019447$

$4/16/2019445$

$4/15/2019459\mathrm{.}5$

$4/12/2019464\mathrm{.}5$

$4/11/2019460\mathrm{.}5$

$4/10/2019458$

$4/9/2019459\mathrm{.}5$

$4/8/2019465\mathrm{.}25$

$4/5/2019467\mathrm{.}75$

$4/4/2019470\mathrm{.}75$

$4/3/2019471$

$4/2/2019464$