Question: is there a serial correlation in this graph ! and what is serial correlation! Teenage Employment Rate in 1989 25 30 35 40 {5 50

is there a serial correlation in this graph ! and what is serial correlation!

Teenage Employment Rate in 1989 25 30 35 40 {5 50 55 60 65 7|] Teenage Employment Rate in IOB'? x States with Higher Minimum Wage in 1989 El Other States Figure 3. Teenage Employment-Population Rates in the 50 States and the District of Columbia: 1989 Rates Plotted Against 1937 Rates Suppose that you ran the following regression: Employment Rate in 1989i = [5'1 + [5'2 * Employment Rate in 1987;- + 3:: Do you think you will have a serial ( auto) correlation problem with respect to the states that have higher minimum wages in 1989 compared to those that did not? (7 points)

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