Question: Go to http://www.bea.gov/national/xls/gdpchg.xls and use the data in the 1st column that is marked “GDP Percent Change Based on Current Dollars.” This is an Excel spreadsheet. Do the following:

a. Use the Excel command =rand() to pick 20 random observations. (Use the first two numbers after the decimal point.) List the random numbers Excel picked for you in the order they were picked and list the corresponding year and GDP percent change observation.

Example: 1st random number that was picked was 20. This corresponds to the 1949 observation (-0.7). The 2nd random number that was picked was 01. This corresponds to the 1930 observation (-12.0). Do not use the same observation twice even if you pick the same random number twice.

b. Based on the 20 observations you picked, develop a 95 percent confidence interval. Show work.