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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