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5. To make a statistical inference about the trend of hourly wages of part-time and full-time employees in the 25-54 age group, we need to

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5. To make a statistical inference about the trend of hourly wages of part-time and full-time employees in the 25-54 age group, we need to construct time series lines over the decade. a) Use the excel file NWPB/Wages.xlex for "All Industries" to construct two scatter plot diagrams of hourly wages (dependent variable) vs. month (independent variable) starting from t = 1, January 2008, for the ten-year period for part-time and full-time employees. b) Using an excel worksheet, find trend lines, coefficients of determination, and coeffi- cients of correlation. Is the linear association evident for both cases? c) Based on the regression model, estimate the hourly wages for both categories of employees in December 2018

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