The following data on the number of iron workers in the United States for the years 1978 through 2008 are provided by the U.S. Bureau of Labor Statistics. Using regression techniques discussed in this section, analyze the data for trend. Develop a scatter plot of the data and fit the trend line through the data. Discuss the strength of the model.
Year
Union members
(1000’s)
1978
17,340
1979
16,996
1980
16.975
1981
16.913
1982
17,002
1983
16,960
1984
16,740
1985
16.568
1986
16,390
1987
16,598
1988
16,748
1989
16,360
1990
16.269
1991
16,110
1992
16,211
1993
16,477
1994
16,334
1995
16,305
1996
16,145
1997
15,776
1998
15,472
1999
16,685
2000
15,359
2001
16,670
2002
16,098
2003
16,212
2004
16,316
2005
16,718
2006
16,707
2007
16,113
2008
15,128
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