4
AN ESTIMATION OF APPLE STOCK PRICES ON NIFTY 50 AND APPLE TRADE
VOLUME
Analysis
Assumptions
Descriptive statistics for Nifty 50 monthly closing price, Apple Inc. monthly traded
volume, and Apple Inc. monthly closing price were calculated. It can be noted from the
skewness that all the variables were almost normally distributed with a slight positive
skewness.
Table 1: Descriptive Summary of Nifty 50 monthly closing price, Apple Inc.
monthly traded volume, and Apple Inc. monthly closing price
Descriptives Apple_Close Apple_Volume NIFTY50_Close
Mean 141.57 806262976.67 9344.23
Standard Error 4.68 37626796.94 173.06
Median 129.37 742753100.00 8826.75
Standard Deviation 36.26 291455915.85 1340.49
Sample Variance 1314.69 84946550882836300.00 1796925.18
Kurtosis -0.64 1.51 -1.16
Skewness 0.58 0.87 0.39
Range 133.89 1631699300.00 4935.75
Minimum 93.74 154318700.00 6987.05
Maximum 227.63 1786018000.00 11922.80
Count 60 60 60
The residual plots indicated that there was no heteroscedasticity as the residuals were
randomly spread across both the independent variables. For checking of multicollinearity,
pairwise Pearson’s correlations were evaluated. A moderate negative correlation between
Nifty 50 monthly closing price and Apple Inc. monthly traded volume indicated possible
presence of multicollinearity.
Linear relation between the dependent and independent variables can be identified
from the scatterplots in Figure 1 and Figure 2. The correlation matrix in Table 2 provides the
numerical summary of identified linear association.

MBAF 502: Regression Analysis of Apple Stock Prices and NIFTY 50