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Part 3: A Data TaskBelow is the scatter plots for both sheets.11
!1.5!1!0.500.511.522.5!0.4!0.3!0.2!0.100.10.20.30.40.5logquan)tychangelog price changeSheet 1!8!6!4!202468!0.8!0.6!0.4!0.200.20.40.6LogofQuan*tyChangeLog of price changeSheet 212
To calculate the proportion of Giffen observations, I createdc in both sheets three additionalcolumns. They were created using the following Excel formulas:=IF(AND(A2>0,B2>0),1,0), =IF(AND(A2<0,B2<0),1,0), =C2+D2.I then summed the last column. The number of Giffen observations in the first sheet was 130, whichcorresponds to a proportion of 130/297=43.8%. In the second sheet the number of Giffen observationswas 163, which corresponds to a proportion of 163/301=54.2%.13