Question

Consider the following table containing unemployment rates for a 10-year period.

Unemployment Rates

Year	Unemployment Rate (%)
1	4.7
2	6.8
3	10.8
4	11.5
5	6.9
6	11.7
7	8.7
8	7.4
9	10.7
10	11.1

Step 1 of 2 :  

Given the model

Estimated Unemployment Rate=β0+β1(Year)+εi,

write the estimated regression equation using the least squares estimates for β0β0 and β1β1. Round your answers to two decimal places.

Estimated unemployment rate _______________+ __________________(year)

Answer 1