Consider the regression output below and answer each question. The frequency is quarterly, and the variables are defined at annual rates as follows: INT RATE 3M is the 3-Month Treasury Bill, INF RATE is the inflation rate, UNRATE is the unemployment rate, and EMP GROWTH corresponds to the employment growth rate. Dependent Variable: INT_RATE_3M
Method: Least Squares
Date: 09/08/18 Time: 13:19
Sample: 1986Q1 201504
Included observations: 120
Variable Coefficient Std. Error t-Statistic Prob
C 23.44805 4.255382 5.510210 0.0000
INF_RATE 4.548682 0.849341 5.355544 0.0000
UNRATE 3.141232 0.555313 -5.656692 0.0000
EMP GROWTH0.488059 0.466374 1.046498 0.2975
R-squared
Adjusted R-squared
S. E. of regression
Sum squared resid
Log likelihood
F-statistic
Prob(F-statistic) 0.449344
0.435103
8.360922
8108.983
-423.0668
31.55267
0.000000 Mean dependent var
S. D. dependent var
Akaike info criterion
Schwarz criterion
Hannan-Quinn criter Durbin-Watson stat 1 4.76936
11.12422
7.117780
7.210696
7.155513
0.215676
a) How is the goodness of fit? How can you tell?
b) For each of the 3 independent variables in the regression, state if their coefficient is statistically significant at 5% level.
c) For the same variables in (b), construct 90% confidence intervals.
d) What do you learn from Akaike and Schwarz criteria?

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