The U.S. Department of Labor gathers and publishes statistics concerning the labor market. The file Workforce contains
Question:
The U.S. Department of Labor gathers and publishes statistics concerning the labor market. The file Workforce contains data on the size of the U.S. civilian no institutional population of people 16 years and over (in thousands) and the U.S. civilian no institutional workforce of people 16 years and over (in thousands) for 1984-2014. The workforce variable reports the number of people in the population who have a job or are actively looking for a job. (Data extracted from Bureau of Labor Statistics, U.S. Department of Labor, www.bls.gov.)
a. Plot the time series for the U.S. civilian no institutional population of people 16 years and older.
b. Compute the linear trend forecasting equation.
c. Forecast the U.S. civilian no institutional population of people 16 years and older for 2015 and 2016.
d. Repeat (a) through (c) for the U.S. civilian no institutional workforce of people 16 years and older.
Step by Step Answer:
Statistics For Managers Using Microsoft Excel
ISBN: 9780134173054
8th Edition
Authors: David M. Levine, David F. Stephan, Kathryn A. Szabat