The U.S. Department of Labor gathers and publishes statistics concerning the tabor market. The file Workforce contains the size of the U.S. civilian noninstitutional population of people 16 years and over (in thousands) and the U.S. civilian noninstitutional workforce of people 16 years and over (in thousands) for 1984-2018. The workforce variable reports the number of people in the population who have a job or are actively looking for a job.
a. Plot the time series for the U.S. civilian noninstitutional population of people 16 years and older.
b. Compute the linear trend forecasting equation.
c. Forecast the U.S. civilian noninstitutional population of people 16 years and older for 2019 and 2020.
d. Repeat (a) through (c) for the U.S. civilian noninstitutional workforce of people 16 years and older.