In our replication of Okun’s Law, the correlation analysis o…
In our replication of Okun’s Law, the correlation analysis of the unemployment rate and the GDP growth rate, we determined our regression function to be: Y = -1.4833x + 3.1263, Where Y = % change in the GDP Growth rate and X = % change in the unemployment rate. If there was 2.5% decrease in the unemployment rate, what would be the change in the GDP growth rate? Enter your answer rounded to the nearest hundredth with no % symbol, e.g. 6.837% = 6.84