The data file to be used in this exercise is attached below. It covers 30-year mortgage interest rate (in %) and median home price (in dollars) from 1988 through 2003.
Year Mortgage Interest Rate (x) Median Home Price (y)
1988 10.30 $183,800
1989 10.30 $183,200
1990 10.10 $174,900
1991 9.30 $173,500
1992 8.40 $172,900
1993 7.30 $173,200
1994 8.40 $173,200
1995 7.90 $169,700
1996 7.60 $174,500
1997 7.60 $177,900
1998 6.90 $188,100
1999 7.40 $203,200
2000 8.10 $230,200
2001 7.00 $258,200
2002 6.50 $309,800
2003 5.80 $329,800
(a) Use the attached EXCEL data file and draw a scatterplot with trendline by putting Median Home Price (in dollars) on the vertical axis and Mortgage Interest Rate (in %) on the horizontal axis. Submit your output and no explanation is needed.
(b) Using the EXCEL regression package and run a simple linear regression analysis, using Median Home price as the dependent variable (y) and Mortgage Interest Rate as the independent variable (x). Submit your output.
(c) Write a simple sentence on the same worksheet as your regression output and explain, in the context of this case, the slope parameter estimate, b1, you obtained from regression. Focus on the sign and size of the estimate in your explanation.
Can somebody make this in EXCEL FORMAT
