I need part a) and b) and the interpretation in the last part. Please provide me with the right answe, I will provide my feedback
1) There is a market research group called "The international Consortium for Coffee Advocates" puts out a yearly report. The organization puts out a report saying that the average price of coffee since 1991 to 2018 is 3 dollars. You do not believe this is true, so you go out and gather data on the price of coffee per year since 1991 to 2018. The question below is worth 3 points. i. What is the null and alternative hypotheses described above? . Use an alpha of .05 to calculate the Critical Value and The Test statistic for the question above. ili. Do i reject the null hypotheses or not? You also gathered data on the quantity of coffee imported to America and the price of tea per year in America. You want to include a final X value called Trend, it is just a number from 1-28 and measures the growth effects overtime of coffee import. This is a common method when working with time series data. (I want you to estimate this model Coffee Import-3 (price of coffee) + (price of tea) + (Trend)) a) Use a program to estimate the regression model for the data? (write it out in your answer) b. What does the model say about the relationship between the price of coffee and the amount of coffee beans imported? Is it positive or negative? How about the price of Tea? Does it impact the amount of coffee Imported? Please interpret the main statistics of interest, what can you include about the model? (R-Squared, adjusted R-Squared, and P.Values). Does the model explain the data variation? Trend 4 5 5 2 B B D 1 2 US import of Coffee and Price data 3 Calendar year Import volume of coffee in thousand 60 kg bags Average Price of coffee per year Average Price of Tea per year 4 1991 19840 2.81 1.428333333 5 1992 22939 2.58 1.676666667 6 1993 19329 2.47 1.5575 1994 16171 3.4 1.570833333 8 1995 17107 4.04 1.3025 9 1996 19445 3:43 1.424166667 30 1997 20343 4.11 2.015 11 1998 21030 3.77 1.899166667 12 1999 22746 3.43 1.801666667 13 2000 23767 3.45 2.03 14 2001 21415 3.09 15175 15 2002 21639 2.92 1:493333333 16 2003 22760 2.92 1.544166667 17 2004 23184 2.85 1.554166667 2005 23042 3:26 1.478333333 2006 23709 3.2 1.9525 20 2007 24219 3.47 1.665833333 21 2008 24277 3.57 2.218333333 2009 23578 3.67 2.52 23 2010 24378 3.91 2.5625 24 2011 26093 5.19 2.720833333 2012 26056 5.68 2.850833333 Full data + 10 11 12 13 14 15 16 17 18 19 20 21 22 27 m 2012 2013 2014 2015 2016 2017 2018 2605 2016 27565 27701 2083 29486464 209100 YOU 6 5.45 45 39 2.HD13333 2.399166667 2.24 2.45 24 297166667 24 22 25 24 25 29 1) There is a market research group called "The international Consortium for Coffee Advocates" puts out a yearly report. The organization puts out a report saying that the average price of coffee since 1991 to 2018 is 3 dollars. You do not believe this is true, so you go out and gather data on the price of coffee per year since 1991 to 2018. The question below is worth 3 points. i. What is the null and alternative hypotheses described above? . Use an alpha of .05 to calculate the Critical Value and The Test statistic for the question above. ili. Do i reject the null hypotheses or not? You also gathered data on the quantity of coffee imported to America and the price of tea per year in America. You want to include a final X value called Trend, it is just a number from 1-28 and measures the growth effects overtime of coffee import. This is a common method when working with time series data. (I want you to estimate this model Coffee Import-3 (price of coffee) + (price of tea) + (Trend)) a) Use a program to estimate the regression model for the data? (write it out in your answer) b. What does the model say about the relationship between the price of coffee and the amount of coffee beans imported? Is it positive or negative? How about the price of Tea? Does it impact the amount of coffee Imported? Please interpret the main statistics of interest, what can you include about the model? (R-Squared, adjusted R-Squared, and P.Values). Does the model explain the data variation? Trend 4 5 5 2 B B D 1 2 US import of Coffee and Price data 3 Calendar year Import volume of coffee in thousand 60 kg bags Average Price of coffee per year Average Price of Tea per year 4 1991 19840 2.81 1.428333333 5 1992 22939 2.58 1.676666667 6 1993 19329 2.47 1.5575 1994 16171 3.4 1.570833333 8 1995 17107 4.04 1.3025 9 1996 19445 3:43 1.424166667 30 1997 20343 4.11 2.015 11 1998 21030 3.77 1.899166667 12 1999 22746 3.43 1.801666667 13 2000 23767 3.45 2.03 14 2001 21415 3.09 15175 15 2002 21639 2.92 1:493333333 16 2003 22760 2.92 1.544166667 17 2004 23184 2.85 1.554166667 2005 23042 3:26 1.478333333 2006 23709 3.2 1.9525 20 2007 24219 3.47 1.665833333 21 2008 24277 3.57 2.218333333 2009 23578 3.67 2.52 23 2010 24378 3.91 2.5625 24 2011 26093 5.19 2.720833333 2012 26056 5.68 2.850833333 Full data + 10 11 12 13 14 15 16 17 18 19 20 21 22 27 m 2012 2013 2014 2015 2016 2017 2018 2605 2016 27565 27701 2083 29486464 209100 YOU 6 5.45 45 39 2.HD13333 2.399166667 2.24 2.45 24 297166667 24 22 25 24 25 29
