For several years, Japans declining population has led experts and lawmakers to consider its economic and social
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For several years, Japan’s declining population has led experts and lawmakers to consider its economic and social repercussions (NPR, December 21, 2018). Consider the population data, in millions, for Japan from 1960 to 2017; a portion of the data is shown in the accompanying table.
a. Use a scatterplot of the series to suggest the appropriate polynomial trend model and follow it up with a formal model selection measure.
b. Use the preferred model to forecast the population in Japan for 2018 and 2019.
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a The Quadratic and Cubic Models seems to do a compara...View the full answer
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