Using R studio:

1. Fit an ARMA(1,1) with an ar=0.9 and ma=-0.4, sample size should be 200. Plot the simulated series.
2. What do the acf and pacf plots suggest? Are they supporting the argument that this series come from the ARMA process?
3. From Fred Database get the Job Openings: Total Nonfarm series(period 2000 until the latest possible). Use the R-code to get the data directly from Fred. (series id:JTSJOL)
4. Try to find the right ARIMA model that helps explain the dynamics of the Job Openings: Total Nonfarm in the USA. Please explain the ARIMA model you picked.
5. Then, produce the forecast values for next 3 periods.