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Consider the following table containing unemployment rates for a 10-year period. Unemployment Rates Year Unemployment Rate (%) 1 5.8 5.8 2 3.2 3.2 3 5.5
Consider the following table containing unemployment rates for a 10-year period. Unemployment Rates Year Unemployment Rate (%) 1 5.8 5.8 2 3.2 3.2 3 5.5 5.5 4 8.6 8.6 5 6.1 6.1 6 6.8 6.8 7 7.5 7.5 8 5.2 5.2 9 11.1 11.1 10 7.4 7.4 Step 1 of 2 : Given the model Estimated Unemployment Rate=0+1(Year)+i, Estimated Unemployment Rate = 0 + 1 ( Year ) + i , write the estimated regression equation using the least squares estimates for 0 0 and 1 1 . Round your answers to two decimal places.
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