Consider the following table containing unemployment rates for a 10-year period. Unemployment Rates Year Unemployment Rate (%) 1 4.1 2 5.4 3 10.3 4 4.2 5 6.5 6 4.9 7 5.1 8 8.1 9 10.4 10 9.8...

Consider the following table containing unemployment rates for a 10-year period.

Unemployment Rates

Step 1 of 2 :

Given the model

Estimated Unemployment Rate=β0+β1(Year)+εi,Estimated Unemployment Rate=β0+β1(Year)+εi,

write the estimated regression equation using the least squares estimates for β0β0 and β1β1. Round your answers to two decimal places.

Jun 07, 2022

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