b) (i) Now using 'real world' quarterly data (seasonally adjusted) on Australia from a reliable source (e.g., Australian Bureau of Statistics), estimate a modified Phillips curve for the years 1977-2019 using the regression tool in Microsoft Excel. Copy/paste the regression summary output from Excel. What is the estimated equation for the modified Phillips curve? Discuss the statistical significance of the model. What is the value of the natural rate of unemployment? Upload the dataset in a separate excel file on to Blackboard with your submission (the Excel file is not counted towards the page limit).

SUMMARY OUTPUT Regression Statistics Multiple R 0.505127378 R Square 0.255153668 Adjusted R Square 0.250666642 Standard Error 1.498999049 Observations 168 ANOVA off SS MS F Significance F Regression 127.7750133 127.7750133 56.86476127 Residual 2.89813E-12 166 373.0016927 2.246998149 Total 167 500.7767059 Coefficients Standard Error t Stat P-value Lower 95% Intercept 13.87747485 0.943129071 14.71429021 Upper 95% Lower 95.0% 6.64419E-32 12.01540065 Upper 95.0% 28126 15.73954906 12.01540065 15.73954906 -0.000196936 2.61158E-05 7.540872713 2.89813E-12 0.000248498 0.000145374 0.000248498 -0.000145374