Instructions: Each group must do the following:
1. Use the data provided by the instructor.
2. Provide descriptive statistics for each variable in the report (mean, median, variance, standard deviation, maximum, minimum, etc.). Plot the data and include the graphs in the report.
3. Estimate the regression model using Excel or a software of your choice. Create a table of coefficients and standard errors. Plot the necessary graphs to check the required conditions about the error terms.
4. Analyze the Excel output: Test for each coefficient of the regression model and for the regression model as a whole. Assess the regression model: how well does it fit the data? Are the required conditions about the errors satisfied?
5. Prepare and submit a report.
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