Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Obtain monthly unemployment data from 1/1/2010 to 12/31/2014 for the following areas; Minnesota, FRB-Minneapolis Area, Sterns county in MN. Answer the following questions for each
Obtain monthly unemployment data from 1/1/2010 to 12/31/2014 for the following areas; Minnesota, FRB-Minneapolis Area, Sterns county in MN. Answer the following questions for each data series separately. A. Provide the time series plot. B. Identify the time series characteristics. Explain. C. Assuming no cyclical pattern, provide the best regression model for each data series. D. Run the regression model using E-views. E. Explain the validity of the model. F. Do we find autocorrelation issue in the model? Explain your answer. G. Provide the Residual plot. Describe the distribution of residuals. H. Provide the monthly forecasted unemployment rates for 2015. For State Data: Home > FRED Economic Data > Categories > U.S. Regional Data For Federal Reserve District Data: Home > FRED Economic Data > Categories > U.S. Regional Data > Federal Reserve Districts > Minneapolis For County Data: Home > FRED Economic Data > Categories > U.S. Regional Data > States > Minnesota > Sterns 2.Based on the forecasted values, provide a comparative labor market analysis on unemployment rates across the three regions for year 2015
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started