Hello everyone, this is a topic I'm struggling with, Can someone help with the explanation of the question below. Thank you guys in advance

Regression ond Time Series In this question you will be working with dataset loggiey which can be view in R by running the code data! longley l- The objective is to predict the numb er of people employed from economic variables. You'll need to conduct most of your analysis in R and produce screenshot of the output together with suitable comments. The dataset has several numerical columns: IGI'IIE'Ldel'latorr GNP. Unemployed, AnneiForoes. Population, Year, Employed. The response variable is Employed. [i] Hence using above produce a reduced model by selecting the most relevant explanatory variables and write the equation relating Employed to the relevant explanatory Iva riables. [ii] State the assumptions underlying linear regression models. Produce the diagnostic plots for your reduced model found in [iii] and comment on the validity of the model. [iii] Produce a time series plot of Employed against years and produce the autocorrelation plot or values