Create an Excel spreadsheet to produce a chart similar to Figure 11.5 showing samples from a bivariate Student t -distribution with four degrees of freedom where the correlation is 0.5. Next suppose...

Create an Excel spreadsheet to produce a chart similar to Figure 11.5 showing samples from a bivariate Student
t-distribution with four degrees of freedom where the correlation is 0.5. Next suppose that the marginal distributions of
V
₁
and
V
₂
are Student
t
with four degrees of freedom but that a Gaussian copula with a copula correlation parameter of 0.5 is used to define the correlation between the two variables. Construct a chart showing samples from the joint distribution. Compare the two charts you have produced.