Year	Quarter	lgdp	lcons
2002	1	8.090727405	7.693344439
2002	2	8.12074481	7.72093452
2002	3	8.132059982	7.729213877
2002	4	8.150086309	7.769002535
2003	1	8.114433022	7.717169235
2003	2	8.14116416	7.750348662
2003	3	8.160887893	7.764183474
2003	4	8.18940026	7.805388232
2004	1	8.156672577	7.761059352
2004	2	8.182812167	7.784881808
2004	3	8.193427879	7.794406261
2004	4	8.222503422	7.844228958
2005	1	8.190303099	7.792566489
2005	2	8.216992014	7.823049915
2005	3	8.234528909	7.834903257
2005	4	8.251790155	7.874189545
2006	1	8.226165529	7.827541096
2006	2	8.253569775	7.856307178
2006	3	8.252284232	7.859554843
2006	4	8.274634633	7.902287343
2007	1	8.240737203	7.855593126
2007	2	8.268126008	7.878880348
2007	3	8.274430946	7.880646358
2007	4	8.297485481	7.918891719
2008	1	8.26891079	7.87469882
2008	2	8.274636417	7.88642871
2008	3	8.26790354	7.87350833
2008	4	8.26465224	7.891799608
2009	1	8.215542004	7.842955691
2009	2	8.236355377	7.865876393
2009	3	8.24677615	7.870092223
2009	4	8.273794125	7.896420252
2010	1	8.234644322	7.852717041
2010	2	8.265770014	7.883548874
2010	3	8.276412771	7.887272797
2010	4	8.296775172	7.920745407
2011	1	8.258488263	7.876671098
2011	2	8.28025062	7.904861835
2011	3	8.286445048	7.903693071
2011	4	8.310299641	7.93417494
2012	1	8.28807206	7.896673974
2012	2	8.302246702	7.919464185
2012	3	8.310429505	7.914470457
2012	4	8.32406101	7.948595436
2013	1	8.295481864	7.901073716
2013	2	8.316074062	7.930162321
2013	3	8.331764171	7.9315535
2013	4	8.353926453	7.97351891
2014	1	8.313740987	7.920852162
2014	2	8.340411382	7.957549803
2014	3	8.360010119	7.96363646
2014	4	8.379707706	8.009244426
2015	1	8.346591093	7.960388898
2015	2	8.377084329	7.997674559
2015	3	8.386560907	8.000297515
2015	4	8.397710086	8.039418324
2016	1	8.36214651	7.989860404
2016	2	8.389897176	8.023711292
2016	3	8.400298861	8.026028355
2016	4	8.417715339	8.06629893
2017	1	8.375307455	8.011115611
2017	2	8.411973999	8.050637372
2017	3	8.425534596	8.050759821
2017	4	8.444487436	8.093293608
2018	1	8.40805399	8.03838322
2018	2	8.44206784	8.077521347
2018	3	8.452242212	8.079670073
2018	4	8.473009929	8.12039928

The dataset "US macro data".xls contains quarterly time series data for the US for the period Q1 2002 to Q4 2018. Here Q1 20xx stands for the first quarter of the year 20xx, and so on. The variables are:

Year: 20xx

Quarter: 1 to 4

lgdp: logarithm of US Real Gross Domestic Product, Billions of Chained 2012 Dollars, Quarterly, Not Seasonally Adjusted

lcons: logarithm of US Real Personal Consumption Expenditures, Billions of Chained 2012 Dollars, Quarterly, Not Seasonally Adjusted

Conduct regression analysis . Discuss the dummy variable bias in this context. ? Fully discuss. Based on the estimated model, what are the average log real consumptions in Q1 and Q4?