For the next 5 questions, use the internet to find a reliable time series data set with
Question:
For the next 5 questions, use the internet to find a reliable time series data set with at least 10 years of data, and at least 10 data points. 1. State the source of the data, and explain how you know it is a reliable source.
2. Perform a linear regression and interpret the results.
3. Using the regression results from the previous question, estimate the value that would occur 10 years before your first data point, and 10 years after your last data point. How valid are these predictions?
4. Make a residual plot and comment on the appropriateness of the model.
5. Even though the source of the data is reliable, describe at least two biases or mistakes that could have been made in collecting the data that would affect any conclusions. Include questions you may ask to investigate these potential issues.