Question

# U.S. Civilian Labor Force, 2007-2016 Year Labor Force 2007 153,918 2008 154,655 2009 153,111 2010 153,650...

 U.S. Civilian Labor Force, 2007-2016 Year Labor Force 2007 153,918 2008 154,655 2009 153,111 2010 153,650 2011 153,995 2012 155,628 2013 155,151 2014 156,238 2015 157,957 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 158608 161301 12 159192 163354 13 159776 165653

The exponentia trend model equation along with the scatter plot is as follows The linear trend equation is

y = 152218 * e0.0037 * x

where e is constant = 2.71828

Where y is the Labour force for the year "'x" where x = 1 represents year 2007 and son on

For year 2017, x = 11

y = 152218 * 2.718280.0037 * 11

= 152218 * 1.04154

= 158541.1

= 158541 rounded to nearest whole number

For year 2018, x = 12

y = 152218 * 2.718280.0037 * 12

= 152218 * 1.0454

= 159128.8

= 159129 rounded to nearest whole number

For year 2019, x = 13

y = 152218 * 2.718280.0037 * 13

= 152218 * 1.049276

= 159718.6

= 159719 rounded to nearest whole number

= 159129 rounded to nearest whole number

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