Forecasting slides #59-62 (World Financial Markets) The World Economic Forum studies data on many variables related to financial development in the countries of the world. They rank countries on their financial development based on a collection of factors related to economic growth. Two of the variables studied are gross domestic product per capita (GDP) and net assets per capita Here are the data for 15 countries that ranked high on financial development: GDP Assets GDP Assets GDP Assets Country (1000s) (1000s) Country Country (1000s) (1000s) (1000s) (1000s) UK 43.8 199 Switzerland 67.4 358 Germany 44.7 145 Australia 47.4 166 Netherlands 52 242 Belgium 47.1 167 USA 47.9 191 Japan 38.6 176 Sweden 52.8 169 Singapore 40.0 168 Denmark 62.6 224 Spain 35.3 152 Canada 45.4 170 France 46.0 149 Ireland 61.8 214 Conduct the regression analysis using Excel's regression function. Based on the Excel's output report, answer the following questions:The regression equation is: Enter 1 if your answer is: Assets = 27.1682 + 4.5"GDP Enter 2 if your answer is: GDP = -27.1682 + 4.5"Assets Enter 3 if your answer is: Assets = -27.1682 + 4.5*GDP Enter 4 if your answer is: Assets = 4.5 - 27.1682*GDP Enter 5 if your answer is: GDP = 4.5 - 27.1682"Assets Answer = Question 2 Correlation coefficient (r) is _ ____(Round the answer to two decimal places) 0.76 Coefficient of determination or r2 is (Round the answer to two decimal places) 0.58 Question 4 0.5 p Is GDP per capita a good predictor of the net assets per capita? O Yes O NoUsing the regression equation, the estimated net assets per capita for a country that has a GDP per capitaof $50,000=% ____.(Enter in dollars and round to a whole number) Hint: X and Y are in thousands Question 6 1 pts If the actual net assets per capita are $280 thousand, the prediction error = $ . Enterin dollars and round to a whole number)