Computer Applications Assignment Problem
Assume that you are a research analyst in a business firm. Your team leader has given you a research task to investigate whether fossil fuel consumption affects CO2 emissions.
For this purpose, suppose that you have collected sample data on fossil fuel consumption (as a % of total fuel consumption) and CO2 emissions (in kilo tonnes) in Australia between 1960-2015 from the World Bank Open Data (https://data.worldbank.org/). The data are stored in QAB105 sheet in Assignment_Datafile.xlsx. Using this data set and EXCEL, and no more than 750 words in total (including Q5) answer the following questions.
1. Using appropriate graphical descriptive techniques (in Excel):
- describe the trend of two data series, fossil fuel consumption and CO2
- analyse the relationship between the two variables, fossil fuel consumption and CO2 emissions.
2. Using appropriate numerical descriptive methods (in Excel):
- summarize the above two data series, fossil fuel consumption and CO2 emissions.
- comment on the strength and the direction of the relationship between fossil fuel consumption and CO2 emissions.
3. Using the Simple Linear Regression technique,
- develop a model to explain the relationship between fossil fuel consumption and CO2 emissions. Explain the reason for your choice of the dependent and independent variables of your model.
- estimate the model you proposed in 3(a) using Excel and display the output.
- interpret the estimated coefficients you obtained in 3(b).
4. Applying appropriate statistical techniques,
- test whether the linear relationship between fossil fuel consumption and CO2 emissions you estimated in Q3 is significant (use a = 0.05). (Hint: display 6 steps process in relation to this test).
- assess the fitness of the estimated model you have estimated in Q3.
5. Based on all your answers above, write a summary report about your findings to hand over to your team leader (maximum 250 words).