The monthly time-series data for the number of people employed on a full-time basis are shown in

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The monthly time-series data for the number of people employed on a full-time basis are shown in the table. Plot these data. Estimate the following forecasting models: linear trend, quadratic trend and exponential trend. Compute a forecast for the number of people employed in July 2020 with each model. Compare the three models using appropriate measures and choose the best forecasting model, giving your reasons.

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Linear trend model SUMMARY OUTPUT Regression Statistics Multiple R 0630661 R Square 0397734 Adjusted ...View the full answer

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