Question: Use the data below to answer this questions. a.) Generate a scatter of the data b. ) Report the monthly averages (January for all years,

Use the data below to answer this questions.

a.) Generate a scatter of the data

b. ) Report the monthly averages (January for all years, February for all years etc.)

c.) Is there seasonality? Is there a trend?

d.) How can you forecast the value for March 2020? Generate that forecast.

e.) (Not technical) This forecast will for sure be wrong. Why?

Reference period Employment 3
Persons
Jan-01 1,879.50
Feb-01 1,901.00
Mar-01 1,925.30
Apr-01 1,914.60
May-01 1,961.50
Jun-01 1,960.60
Jul-01 1,953.40
Aug-01 1,940.20
Sep-01 1,928.00
Oct-01 1,909.20
Nov-01 1,896.40
Dec-01 1,881.40
Jan-02 1,880.20
Feb-02 1,884.00
Mar-02 1,902.60
Apr-02 1,913.40
May-02 1,937.40
Jun-02 1,990.90
Jul-02 1,994.80
Aug-02 2,013.10
Sep-02 2,002.30
Oct-02 1,982.50
Nov-02 1,969.00
Dec-02 1,959.20
Jan-03 1,928.20
Feb-03 1,952.40
Mar-03 1,980.40
Apr-03 1,972.00
May-03 1,987.80
Jun-03 2,018.70
Jul-03 2,027.80
Aug-03 2,030.20
Sep-03 2,012.20
Oct-03 2,032.30
Nov-03 2,008.30
Dec-03 2,026.80
Jan-04 1,982.30
Feb-04 1,967.20
Mar-04 1,981.60
Apr-04 1,977.40
May-04 2,020.50
Jun-04 2,074.90
Jul-04 2,069.50
Aug-04 2,064.10
Sep-04 2,050.80
Oct-04 2,057.30
Nov-04 2,037.30
Dec-04 2,056.50
Jan-05 2,017.60
Feb-05 2,030.60
Mar-05 2,039.10
Apr-05 2,051.70
May-05 2,097.70
Jun-05 2,115.90

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