How do you interpret the price indices in Exhibit 3? How do
economists construct them? Use Excel regression to analyze the
relationship between the adjusted price index (dependent variable
and year (independent variable). Interpret your regression findings
by discussing the coefficient of determination (R-squared), the
regression coefficient, the regression equation, and the p
value. Can you use the regression equation to predict
the price indices? Take into account statistical, macroeconomic,
and other considerations.
EXHIBIT 3
Number
Year
Gross Income
Price...