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

5) Set up formal one-sided hypothesis for the GINI and a two-sided hypothesis for CONSUM SPEND variables.Perform t-test analysis on GINI (one-sided) at 5% level of significance and CON- SUM SPEND (two-sided) at 1% level of significance. Discuss the results of your hypothesis testing.

GDP_pp data GDP_pp data