The following data on the number of union members in the United States for the years 1986
Question:
The following data on the number of union members in the United States for the years 1986 through 2018 are provided by the U.S. Bureau of Labor Statistics. Using regression techniques discussed in this section, analyze the data for trend. Develop a scatter plot of the data and fit the trend line through the data. Discuss the strength of the model.
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Year Union Members (1000s) Year Union Members (1000s) 1986 17,500 1990 16,000 17,000 16,000 16,800 15,700 16,400 15,700 15,500 12,100 14,900 12,400 14,500 12,300 14,100 11,900 13,900 11,800 13,900 11,300 13,400 11,300 13,300 11,100 13,300 11,100 12,900 10,700 12,500 10,700 12,500 10,500 12,000 1987 1988 1989 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 1991 1992 1993 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
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Trend line Members 437705 2119 Year R 2 973 s e 3435...View the full answer
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Related Book For
Business Statistics For Contemporary Decision Making
ISBN: 9781119607458
10th Edition
Authors: Ken Black
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