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This question requires the use of GRETL. Download the Table 3.6: Productivity and related data, U.S. business sector, 1959-1997 dataset and import it into GRETL.

This question requires the use of GRETL. Download the Table 3.6: Productivity and related data, U.S. business sector, 1959-1997 dataset and import it into GRETL. You can download the dataset either through GRETL's sample dataset repository, or from the course web-site, or from Teams. Table 3.6 gives data on indexes of output per hour (Y ) and real wages per hour (X) for the business and non-farm business sector of the U.S. economy for 1059-1997. The base year of the indexes is 1992=100.

(a) (5 points) Create a scatter plot of Y 1, output per hour in the business sector, against X1, compensation per hour in the business sector. (Possibly Completed)

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