Study the following Excel regression output for an analysis attempting to predict the number of union members in the United States by the size of the labor force for selected years over a 30-year period from data published by the U.S. Bureau of Labor Statistics.

Analyze the computer output. Discuss the strength of the model in terms of proportion of variation accounted for, slope, and overall predictability. Using the equation of the regression line, attempt to predict the number of union members when the labor force is 110,000. Note that the model was developed with data already recoded in 1,000 units. Use the data in the model asis.

SUMMARY OUTPUT Regression Statistics Multiple R R Square Adjusted R Square Standard Error Observations 0.798 0.636 0.612 258.632 17 ANOVA df MS F Significance F 0.00012 Residual Total 11756035.529 1756036 26.25 15 1003354.471 66890.3 16 2759390 Coefficients 20704.3805 Total Employment 0.0390 Standard Error 879.6067 t P-value 23.54 0.00000 -5.12 0.00012 Intercept 0.0076