Math Solutions

[Steps Shown] Time- Series Analysis The following time series data represents the mean yearly US unemployment rate between January 1995 and September 2005

Question: Time- Series Analysis

The following time series data represents the mean yearly US unemployment rate between January 1995 and September 2005 (obtained from the US Bureau of Labor Statistics):

Year Unemployment rate (%)
1995 5.59
1996 5.40
1997 4.94
1998 4.50
1999 1.21
2000 3.97
2001 4.75
2002 5.78
2003 5.99
2004 5.52
2005 5.12
  1. Plot the time series on a line chart and show the trendline for unemployment rate. [First change the calendar year into 1, 2, 3 ..series. Then, use Megastat, Correlation/regression, scatterplot. Put year in horizontal axis and unemployment rate in y-axis].
  2. Does the trend line show an increase, decrease or no change in the employment rate during 1995-2005?
  3. Determine the linear regression equation for the time series. [ hint: Megastat, correlation/regression, scatterplot will generate the regression equation ]

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