Question

2. We will be creating a monthly time series plot from raw data from the internet.

2.1 Using data at from the Bureau of Labor Statistics (BLS), create a MONTHLY time series dataset. You may use site http://data.bls.gov/cgi-bin/surveymost?bls (Links to an external site.)Links to an external site. which is a list of "Top Picks"; select the first CPI for all urban consumers (Price Indexes), and click "Retreive Data".   On the resulting data page, click on the "More Formatting Options" button, and then select all years and all time periods. This will result in a .csv formatted page which you can import into your spreadsheet for appropriate processing. If you select "HTML" output type you are also given a download to .xlsx option, which is very convenient. Ignore the Annual, HALF1, and HALF2 fields.

2.2 Create a nice time series plot showing this series. You data should be monthly, Jan 1913 thru most recent data. Comment on any seasonality you observe.

Answer 1

Solution :

2.1 As guided i have referred to the link and extracted data from the website.

Which includes data from CPI for all Urban Consumers. And as said i ignored HALF1 and HALF2 fields.

Solution:

2.2. Time series plot has been created in Excel .

Comment: it shows a gradual increase from year 1970 Dec which is really good in regards to Bureau of Labour Statistics.