The monthly Australian unemployment rates for 1995-2008 are recorded and stores in the Excel sheet attached and answer the following questions:
a) Plot the time series and briefly describe the patterns in the time series.
b) Estimate a linear trend line.
c) Calculate the seasonal (monthly) indices.
d) Using the trend line and the seasonal indices, forecast the monthly unemployment rates for the months of January up to August, 2009.
These questions belong to Statistics and it is about analyzing the monthly Australian unemployment rates between 1995 and 2008. From the data, a time series with patterns, a linear trend line, seasonal indices, etc have been calculated in the solution.
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