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Does variation in S&P 500 values can be explained satisfactorily using all or any combination of remaining variables - Dow jones, Nasdaq, Crude Oil, Gold,

Does variation in S&P 500 values can be explained satisfactorily using all or any combination of remaining variables - Dow jones, Nasdaq, Crude Oil, Gold, and USD/EUR? Apply appropriate Page | 3 statistical test to answer question. Use data collected on "Stock Market Raw Data" tab. Assume alpha value of 5% as required.

Date S&P 500 Adj Close Dow Jones Adj Close Nasdaq Adj Close Crude Oil Adj Close Gold Adj Close USD/EUR X Rate Adj Close
8-Jan-24 4,815.50 37,927.00 16,966.25 72.68 2,014.30 1.0982
1-Jan-24 4,734.75 37,719.00 16,460.25 73.81 2,042.40 1.0957
25-Dec-23 4,820.00 38,012.00 17,023.50 71.65 2,062.40 1.1056
18-Dec-23 4,805.25 37,740.00 16,980.00 73.56 2,057.10 1.1027
11-Dec-23 4,694.27 36,996.45 16,530.23 71.43 2,021.10 1.0909
4-Dec-23 4,607.50 36,280.00 16,098.25 71.23 1,998.30 1.0775
27-Nov-23 4,600.75 36,303.00 16,023.75 74.07 2,071.00 1.0894
20-Nov-23 4,568.25 35,430.00 16,021.00 75.54 2,002.20 1.0951
13-Nov-23 4,527.50 35,012.00 15,895.75 75.89 1,981.60 1.0918
6-Nov-23 4,430.50 34,338.00 15,596.25 77.17 1,932.60 1.0716
29-Oct-23 4,376.00 34,137.00 15,178.75 80.51 1,991.50 1.0739
22-Oct-23 4,137.75 32,504.00 14,265.25 85.54 1,988.60 1.058
15-Oct-23 4,248.50 33,258.00 14,664.00 88.75 1,982.50 1.0603
8-Oct-23 4,357.25 33,827.00 15,120.25 87.69 1,927.40 1.0516
1-Oct-23 4,341.50 33,600.00 15,112.00 82.79 1,830.20 1.0602
24-Sep-23 4,325.50 33,725.00 14,866.50 90.79 1,848.10 1.0588
17-Sep-23 4,361.00 34,232.00 14,869.50 90.03 1,925.40 1.0673
10-Sep-23 4,491.72 34,914.63 15,435.20 90.77 1,923.70 1.0675
3-Sep-23 4,461.75 34,608.00 15,297.50 87.51 1,918.40 1.0714
27-Aug-23 4,521.50 34,882.00 15,516.25 85.55 1,939.80 1.0797
20-Aug-23 4,414.25 34,377.00 14,979.25 79.83 1,911.10 1.0796
13-Aug-23 4,382.75 34,565.00 14,744.00 81.25 1,886.10 1.089
6-Aug-23 4,480.75 35,351.00 15,095.75 83.19 1,912.90 1.0965
30-Jul-23 4,498.00 35,153.00 15,354.00 82.82 1,939.60 1.1027
23-Jul-23 4,606.50 35,592.00 15,847.50 80.58 1,960.40 1.1033
16-Jul-23 4,564.75 35,398.00 15,540.00 77.07 1,964.30 1.1135
9-Jul-23 4,536.75 34,678.00 15,694.25 75.42 1,960.10 1.1249
2-Jul-23 4,434.00 33,937.00 15,181.75 73.86 1,926.20 1.0976
25-Jun-23 4,488.25 34,643.00 15,337.00 70.64 1,921.10 1.0918
18-Jun-23 4,389.00 33,977.00 15,058.25 69.16 1,919.10 1.0934
11-Jun-23 4,453.35 34,582.19 15,316.61 71.78 1,958.40 1.0963

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