Why Use This Data Source In Your Models?
Working age men aged 55-64 describes the number of men in this age group in the US. This is indicative of population size and demographics.
Working Age Population: Males 55-65 - Not Seas Adj
Org for Economic Co-operation & Development
Main Economic Indicators
Persons, Not Seasonally Adjusted
The data shows auto correlation and a non-normal distribution. The data should be differenced. While the Order Norm transformation, provides the best normality, the Yeo Johnson variable will also perform well.
Data is unable to be distributed by time or geography. The roll up method used is Weighted Average.
Data shows auto correlation indicating a need for differencing
The ACF indicates 2 order differencing is appropriate.
Further differencing is reccommended
The Kwiatkowski-Phillips-Schmidt-Shin (KPSS) test, KPSS Trend = 0.65 p-value = 0.01 indicates that the data is not stationary.
The Shapiro-Wilk test returned W = 0.90 with a p-value =0.00 indicating the data does not follow a normal distribution.
A skewness score of -0.40 indicates the data are fairly symmetrical.
Hartigan's dip test score of 0.02 with a p-value of 1.00 inidcates the data is unimodal
Auto Correlation Function
Auto Correlation Function After Differencing
Partial Auto Correlation Function
Seasonal and Trend Decompostion
Organization for Economic Co-operation and Development, Working Age Population: Aged 55-64: Males for the United States [LFWA55MAUSM647S], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/LFWA55MAUSM647S, December 15, 2019.
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