Question: The U S economy was in recession during parts of 1990
The U.S. economy was in recession during parts of 1990 and 1991, most of 2001, and from December 2007 through June 2009. Compute the residuals for the least-squares line found in Exercise 10. During times of recession, does the least-squares line predict the following year's unemployment well? Does it tend to overpredict or underpmdict?
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