Life insurance policies in force. The table below represents all life insurance policies (in millions) in force on the lives of US residents for the years 1990 through 2018. Year No. of Policies (in millions) Year No. of Policies (in millions) 1990 389 2005 373 1991 375 2006 375 1992 366 2007 374 1993 363 2008 335 1994 366 2009 291 1995 370 2010 284 1996 355 2011 286 1997 351 2012 272 1998 358 2013 275 1999 367 2014 278 2000 369 2015 281 2001 377 2016 291 2002 375 2017 289 2003 379 2018 267 2004 373 Source: US Census Bureau.

a. Use the method of least squares to fit a simple regression model to the data.

b. Forecast the number of life insurance policies in force for 2019 and 2020.

c. Construct 95% prediction intervals for the forecasts of part

b. d. Check the accuracy of your forecasts by looking up the actual number of life insurance policies in force for 2019 and 2020.