Assignment Three (9 of 16) ECON 6010 Statistical Methods Assignment III Due: Sunday 10/09/2022 11:59 pm (drop box) Dr. Fadi Fawaz Department of Economics and Finance Tennessee State University Using Assignment III data set, answer the following using excel: 1, Generate and show the results for the best t model (regression). (20 points) 2. Generate and show the specic regression form. (10 points) 3. Explain any dummy variables created. (15 points) 4. Explain any time variables created. (15 points) 5. Discuss the signicance of all variables. (20 points) 6. Plot and briey discuss the residual. (20 points) Variables in the le are: RDPL= per capita income POP= population KI: capital formation (investment) Source: World Bank Development Indicators 2020. Instructions (failing to follow the instructions will cost you points): 1. Be concise, factual, and deliberate with your answers. 2. Just need the output table in word (no data) 3. 1 question per page and number the pages. 4. Write your name on all pages provided. Good luck (J) Dr. Fadi Fawaz 11:14 Chrome Done Assignment 3 Data (7 of 16) country year rgdpl POP ki Botswana 1960 984.31156 480 3.4824083 Botswana 1961 1018.0142 491.88 4.3392566 Botswana 1962 1049.2427 505 5.3333171 Botswana 1963 1053.6057 519.15 6.0160652 Botswana 1964 1062.0474 533.96 7.6631214 Botswana 1965 1020.4583 549.2 2.5772365 Botswana 1966 973.52417 563.17 10.377534 Botswana 1967 1139.2856 579.12 11.707285 Botswana 1968 1221.5496 $96.85 16.503325 Botswana 1969 1297.3972 616.19 9.0493442 Botswana 1970 1207.8242 637 23.996968 Botswana 1971 1323.1404 659.13 29.09086 Botswana 1972 1641.7787 682.48 30.489239 Botswana 1973 1950.7969 706.96 30.963799 Botswana 1974 2207.16 732.48 26.879967 Botswana 1975 2229.8638 759 22.559824 Botswana 1976 2593.4871 786.15 18.049299 Botswana 1977 2557.3114 814.39 13.086573 Botswana 1978 2960.434 43.76 14.933594 Botswana 1979 3184.622 874.3 16.374591 Botswana 1980 3461.8029 906 18.781252 Botswana 981 3636.0792 938.84 18.101827 Botswana 1982 3492.6049 972.75 19.075732 Botswana 1983 3800.6056 1007.73 14.374253 Botswana 1984 3924.7522 1043.83 16.344929 Botswana 1985 4137.8951 1081 14.135097 Cameroon 1960 1692.4087 5296 2.9565822 Cameroon 1961 1681.2232 5403.23 2.9965668 Cameroon 1962 1692.1892 5515.16 3.0712553 Cameroon 1963 1710.7384 5632.07 3.124573 Cameroon 1964 1729.1036 5754.26 3.2975146 Cameroon 1965 1709.1483 5882 4.5187844 Cameroon 1966 1720.1021 6015.59 5.2962316 Cameroon 1967 1487.6114 6155.3 5.3746447 Cameroon 1968 1567.3573 6301.42 5.0376558 Cameroon 1969 1598.8689 6454.23 4.5943522 Cameroon 1970 1589.9559 6614 5.9656232 Cameroon 1971 1628.8572 6780.14 6.9373417 Cameroon 1972 1601.4939 6954.19 7.3810619 Cameroon 1973 1610.2453 7136.52 7.6240124 Cameroon 1974 1742.3125 7327.4 6.2977404 Cameroon 1975 1911.5904 7527 6.5400278 Cameroon 1976 1752.4651 7735.55 6.4362162 Cameroon 1977 1950.0903 7953.3 7.7177698 Cameroon 1978 2223.4507 8179.7 9.7335763 Cameroon 1979 2317.7388 8413.8 8.6895445 Cameroon 1980 2124.6343 8655 10.195486 Cameroon 1981 2392.0737 8903.44 12.865807 Cameroon 1982 2549.4842 9159.19 11.271178 Cameroon 983 2593.8156 9422.19 11.728217 Cameroon 984 2670.5527 9692.44 12.04863 Cameroon 1985 2783.0542 9970 12.539099 Japan 1960 4656.8638 93530.401 22.624149 Japan 1961 5187.7667 94374.316 25.694354 Japan 1962 5585.7031 95257.991 25.218626 Japan 1963 6009.1874 96232.121 26.104622 Japan 1964 6631.0879 97240.047 27.313041 Japan 1965 6916.7517 98290.716 26.727487 Japan 1966 7583.9441 99192.283 27.406178 Japan 1967 8358.3184 100121.68 29.897539 Japan 1968 9410.7466 100455.67 32.010232 Japan 1969 10356.877 102554.03 33.29419 Japan 1970 11396.208 103720 35.94845 Japan 1971 11792.156 104750 34.658366 Japan 1972 12620.239 106180 35.178404 Japan 1973 13327.283 108660 36.213856 Japan 1974 12957.971 110160 34.508685 Japan 1975 13148.155 111520 31.714115 Japan 1976 13523.474 112770 31.707282 Japan 1977 13979.592 113880 31.409586 Japan 1978 14588.356 114920 31.942972 Japan 1979 15256.122 115880 32.123028 Japan 1980 15631.178 116800 31.233271 Japan 1981 15967.502 117650 31.061572 Japan 1982 16339.458 118450 30.079375 Japan 1983 16575.194 119260 28.808429 Japan 1984 17114.523 120020 29.13466 Japan 1985 17778.803 120750 29.634024 Korea, Republic off 960 1570.8896 25252.067 8.2078043 Korea, Republic off 961 1611.175 25981.723 9.8438272 Korea, Republic off 962 1606.5352 26700.361 9.4088802 Korea, Republic off 963 1722.4975 27410.385 17.81461 Korea, Republic off 964 1820.3327 28114.196 12.359496 Korea, Republic off 965 1869.4292 28814.201 12.120304 Korea, Republic off 966 2060.5161 29508.792 18.797531 Korea, Republic off 967 2126.8635 30196.363 20.252072 Korea, Republic off 968 2328.6898 30879.319 24.525752 Korea, Republic off 969 2614.9961 31560.064 22.396799 Korea, Republic off 970 2776.9472 32241 20.266372 Korea, Republic off 971 2957.2304 32883 20.876697 Korea, Republic off 972 3033.9208 33505 18.491611 Korea, Republic off 973 3361.2199 34103 22.14143 Korea, Republic off 974 3558.874 34692 24.690923 Korea, Republic of 975 3719.5453 35281 23.497236 Korea, Republic off 976 4076.7011 35849 25.363508 Korea, Republic off 977 4431.8161 36412 28.946743 Korea, Republic off 978 4769.6855 36969 31.782244 Korea, Republic off 979 5048.2267 37534 34.159252 Korea, Republic off 980 4829.5226 38124 29.144438 Korea, Republic off 981 5058.0147 38723 28.887765 Korea, Republic off 982 5351.0287 39326 29.578661 Korea, Republic off 983 5847.3345 39910 30.759705 Korea, Republic off 984 6263.9619 40406 31.772927