In: Statistics and Probability
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 | |
(d) Make forecasts using the following fitted
trend models for years 2017-2019. (Round your answers to
the nearest whole number.)
t | Linear | Quadratic | Exponential |
11 | |||
12 | |||
13 | |||
Forcast:
t | Linear | Quadratic | Exponential |
11 | 158607.1 | 161300.55 | 158648.0775 |
12 | 159191.2 | 163354 | 159248.5932 |
13 | 159775.3 | 165652.35 | 159851.3819 |