U.S. Civilian Labor Force (thousands) Year Labor Force Year Labor Force 2007 153,918 2012 155,628 2008 154,655 2013 155,151 2009 153,111 2014 156,238 2010 153,650 2015 157,957 2011 153,995 2016 159,640 1. Fit three trend models: linear, exponential, and quadratic. Which model would offer the most believable forecasts?
U.S. Civilian Labor Force (thousands) Year Labor Force Year Labor Force 2007 153,918 2012 155,628 2008 154,655 2013 155,151 2009 153,111 2014 156,238 2010 153,650 2015 157,957 2011 153,995 2016 159,640 1. Fit three trend models: linear, exponential, and quadratic. Which model would offer the most believable forecasts?
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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U.S. Civilian Labor Force (thousands) | ||||
Year | Labor Force | Year | Labor Force | |
2007 | 153,918 | 2012 | 155,628 | |
2008 | 154,655 | 2013 | 155,151 | |
2009 | 153,111 | 2014 | 156,238 | |
2010 | 153,650 | 2015 | 157,957 | |
2011 | 153,995 | 2016 | 159,640 | |
1. Fit three trend models: linear, exponential, and quadratic. Which model would offer the most believable forecasts?
2. Make forecasts using the following fitted trend models for years 2017-2019.
t Exponential
11
12
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