Before completing this assignment, you need to install the Data Analysis Tool Pack Add-In on Excel by using the following steps:

1. Open Excel
2. Go to File -> Options
3. Choose Add-Ins
4. At the bottom you will see Manage. Select Excel Add-ins from the drop down menu and select Go.
5. Place a check mark in the box next to Analysis ToolPak.
6. Select OK.
7. Under the Data Tab there should now be a Data Analysis topic on the far right. If not, repeat the steps.

The dataset you will be analyzing is on eLearn called TaxInfo.

1. What is the Laffer curve and what does it say about the relationship between tax rates and tax revenue? (4 points)