Note: The submission of this assignment is optional. It will not affect yourgrade negatively if you chose not to submit it. I will grade this assignmentafter the final exam has been graded.Question:You recently started following Soccer and are deciding which country to follow(other than your own country) in the upcoming FIFA world cup. You decide to useyour BRM knowledge and tools to come to a decision that might result in following acountry’s team, which has a higher chance of winning the world cup. You get yourhands on the FIFA rankings based on points for 30 countries.A) Download the data set called “FIFA Rankings Data-Extra Credit Homeworkxlsx”The first variable is the FIFA ranking points (the higher the points, the better theteam). The second variable is the economic factor and the third is labor marketfactors.B) You have a proposition that economic factors and labor market factors mightcontribute to soccer rankings. Can you use your intuition make a prediction abouthow (positively or negatively) both these variables may be related to soccerrankings? Justify your choice.C) Build a Multiple Linear Regression Model to confirm the above proposition. Giveall the details of the model. (Use Excel’s data analysis toolpak or R to do 50)Make sure you present the following as a part of your solution;
Scatterplot (with and with out the regression line) (extra points for using the
3d plot in R)
R sq and adjusted R sqD) 15 your intercept term statistically significant? Are any of your coefficient termsstatistically significant?E) 15 the model a good fit to the data? Based on your model, would you decide tofollow a country with high GDP and low unemployment rate?F) Comment on which one of the assumptions of OLS might have been violated.