Collecting the data of interest from ABS website.

1. Collecting the data of interest from ABS website [10 marks]. Your group is interested in investigating the relationship between real GDP, which is denoted by
Y , and a variable called X. Later, X will be used as an independent variable in
a regression. Refer to the Appendix below to find what variable assigned to your
group and its corresponding series code.
2. Data cleaning [10 marks]: after having Y and X series, you need to transform them
into growth rates. Note that, the growth rate for Y and X series can be computed
as yt = 100 ×
Yt-Yt-1
Yt-1
and xt = 100 ×
Xt-Xt-1
Xt-1
, respectively. For the assignment
purposes, your group decided to focus on a sample period running from 2000Q1 to
2020Q1 and use this sample to perform the following exercises. To be clear, the
number of observations for both y and x will be 80.
3. Getting to know the data [20 marks]
(a) Present both y and x on one line graph and report the figure in an Appendix
– Figure 1.
(b) Create a scatter plot between y and x and report the figure in the Appendix
– Figure 2.
(c) Calculate the correlation between y and x and report the result in Figure 2.
(d) Create a table reporting the values of mean and median for x and y for every
10 quarters and present the results in the Appendix – Table 1.
(e) Based on Figure 1, Figure 2 and Table 1, using the second paragraph of your
report to discuss the primary results about the relationship between y and x.
The first paragraph of the report is for an introduction, where you highlight
the aim of your task. Don’t forget a title for your report!