Please answer the following questions. Remember to always show all of your calculations. Definitions for GDP pp Data This data set contains information on five variables pertaining to 62 individual countries in year 2014. GDP pp: Gross Domestic Product per capita in $US GINI: A measure of a nations income inequality, which takes a value between 0 and 100. A value of 100 implies perfect inequality. CONSUM SPEND: consumer spending in $US EXPORTS: exports in $US IMPORTS: imports in $US

4) Lets say that you decided to create an additional independent variable in where you sum the exports and the imports variables. If you then run the same regression as in 1, but also add the new variable, what Classical Assumption would you be violating? Explain your reasoning.

GDP_pp data GDP_pp data