Data Analysis: Unemployment Rate The table shows the
Chapter 5, Problem 5.3.105(choose chapter or problem)
Data Analysis: Unemployment Rate The table shows the unemployment rates r in the United States for selected years from 1990 through 2004. The time t is measured in years, with corresponding to 1990. (Source: U.S. Bureau of Labor Statistics) (a) Use a graphing utility to create a scatter plot of the data. (b) Which of the following models best represents the data? Explain your reasoning. (1) (2) (3) (4) (c) What term in the model gives the average unemployment rate? What is the rate? (d) Economists study the lengths of business cycles, such as unemployment rates. Based on this short span of time, use the model to determine the length of this cycle. (e) Use the model to estimate the next time the unemployment rate will be 5% or less
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