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Section B Lab-Type Questions (36 Marks) Answer all questions in this section. In this section, you will use excel to answer the following questions. Do all the necessary computations in excel. You can copy the output om excel into Word document and do the discussion. Question 1 (9 marks) Part I Assume a survey by Moodle Team collected data on average hours spent studying on m1; for 10 EC203 students before the Final Exam. Day James Peter Chris Susan Jessica 913m Ryan Melina Eric Monday 5.48 4.82 5.19 6.22 4.70 5.07 7.42 6.84 6.91 Tuesday 6.21 5.63 5.70 3.85 5.21 5.61 9.06 6.42 6.82 Wednesday 7.15 6.57 6.64 3.79 6.15 6.55 7.66 7.08 7.15 Thursday 5.22 4.56 4.93 5.96 4.44 4. 81 10.73 8.09 8.49 Friday 6.83 6.17 6.54 7.57 6.05 6.42 8.99 3.41 8.48 Saturday 8.04 7.46 7.53 9.68 7.04 7.44 10.29 9.71 9.78 Sunday 16.76 6.1 l0.47 7.5 8.98 9.35 12.61 9.97 10.37 a) Based on the information above, construct an index of the average hours spent on studying by E0203 students for Tuesday onwards. Use Monday as the base period. spending more time studying on Moodle before the Final Exam. Question 2 (7 marks) [6 marks] b) Using a relevant descriptive tool, show and briey discuss whether the 10 smdents are indeed [3 marks] Assume you work as an Economist for the Ministry of Sugar Exports and provided the following data on sugar exports earnings (SUSD millions). Year Sugaroo4 Exports Sugar Exports Year Sugar Exports 1930 2002 9954 193]. 2003 9949 1932 2004 9944 1933 1005 9939 1984 2006 9934 1985 2007 9929 1986 1987 1988 1989 1990 a) Based on the information provided, determine the appropriate model that will t the data well. State any assumptions you make. [4 marks] b) Based on your model in part a) above, forecast the sugar export earnings for the period 2008-2010. [3 marks]