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Estimating a Linear Trend in the Civilian Unemployment Rate: Monthly Observations, January 2013-August 2019 Regression Statistics R2 0.9316 Standard error 0.3227 Observations 80 Durbin-Watson 0.1878

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Estimating a Linear Trend in the Civilian Unemployment Rate: Monthly Observations, January 2013-August 2019 Regression Statistics R2 0.9316 Standard error 0.3227 Observations 80 Durbin-Watson 0.1878 Coefficient Standard Error t-Statistic Intercept 7.2237 0.0728 99.1704 Trend -0.0510 0.0016 -32.6136 The civilian unemployment rate (UER) is an important component of many economic models. The above table gives regression statistics from estimating a linear trend model of the unemployment rate: UER, bo + byt + r. Using the regression output in the previous table, what is the model's prediction of the unemployment rate for December 2013

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