Given the following data set with x consumer expenditures in

Given the following data set: with x consumer expenditures in billions as and y as tax collected in millions X: .84, 2.15, 2.78, 2.07, 6.26, 7.23, 7.98, 8.04, 9.58, 10.11, 12.64, 10.42, 12.15, 15.23, 14.68, 16.8, 17.06, 18.88 And Y: 9.62, 8.85, 5.67, 3.44, 12.82, 18.32, 23.33, 20.39, 20.39, 18.93, 26.12, 26.89, 30.27, 33.44, 31.31, 31.92, 32.28, 42.59 Question: this data is collected every two months beginning in January 2012 and ending at the end of 2014. State the assumptions necessary to use regression analysis on this data (normally distributed error, Durban Watson/serial correlation, linearity, homoscedasticity) Check whether the assumptions hold in this case. Do the appropriate test of hypothesis at a 10% level of significance (alpha = .10) Be sure to state the null and alternative hypothesis, and show how you come to your answer including all formulas, work, and graphs. For this part, I need you to: (after determining the data is time-related) run a test to see if there is serial correlation. Use Durban Watson and be sure to state to D value from the chart

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